A mysterious and unidentified whale purchased a whopping 153 billion Shiba Inu coins worth a staggering $11 million. The transaction was made through the Gimli Wallet and swapped Ethereum to purchase SHIB.
Whales have again started showing interest in Shiba Inu after the coin spiked +900% in October 2021. Rumours about SHIB being listed on Robinhood is also the main reason that’s driving the coin’s price to newer heights.
Whale Taking Early Entry Position Before Kraken Listing?
Going by the timing of the purchase, the whale took an entry a day before SHIB was listed on Kraken. The holdings can shoot up after Kraken allows its users to trade SHIB and in return, the whale make profits.
In addition, considering the buzz and hype surrounding Shiba Inu lately, the whale is expected to take huge profits. SHIB at present is the third most talked about cryptocurrency in the world and is only behind Bitcoin and Ethereum.
SHIB also beat Dogecoin in the market cap segment. While Doge enjoys a $35 billion market cap, Shiba Inu raced ahead with a $38 billion market cap.
In terms of price, Shiba Inu has been consistently moving ahead. Its rival Dogecoin seems to be stagnant between $0.20 to $0.27 and its hype and buzz has dwindled down.
Shiba Inu: The 1 Cent Dream
After SHIB’s rise of +900% in October, investors believe the coin can touch 1 Cent sooner than they imagine. The coin has attracted heavy buying pressure and the sell orders have drastically decreased. This shows that investors are into it for the long term. Developments like these can propel the coin’s price to shoot up further and reward investors with life-changing wealth.
Others believe SHIB cannot cross the 1 Cent mark due to its market cap and circulation. However, many others claim that anything is possible in the crypto market and the parameters are just a myth.
Shiba Inu is still displaying bullish sentiments and is expected to knock another zero out from its trade by the end of 2021. If Robinhood announces a SHIB listing, the coin is expected to go parabolic. Hence, investors are adding large bags of SHIB to their portfolio in order to not miss out on the bull run.
At the time of publishing, Shiba Inu was trading at $0.00007137 and is up +3.13% in the day’s trade. All eyes are now on Robinhood’s Twitter handle for an official confirmation.