A brand new Shiba Inu whale is born today with his/her first SHIB transaction and the amount is staggering. The mysterious and unidentified Shiba Inu whale purchased 170 billion SHIB coins worth an astonishing $8.1 Million during the dip.
SHIB is on a downside since the last two days and the whale made the most out of it by buying large bags of coins. The whale converted Ethereum (ETH) to buy SHIB with a transaction fee of $88.
SHIB has remained to be the most hot selling token in the whale community since more than a month. In the last three weeks, individual whales have purchased more than 20 billion SHIB coins each during the dip. Shiba Inu takes the top spot in the leading ERC20 tokens despite the latest dip in price.
Studying the Pattern of Whale Movements in Shiba Inu
Ethereum is the second most loved crypto among the whales and SHIB has not moved out from the top spot. Whale dominance in Shiba Inu arguably began from June 2021. Whenever whales took entry position in the coin, it ended up getting listed on exchange platforms a month later.
Whales who picked up SHIB in June saw the coin getting listed on eToro in July. Whales who purchased SHIB in July saw it being listed on WeBull and Coinbase Pro in August. Similarly, whales who bought SHIB in August saw the coin getting listed on Binance and Coinbase in September.
However, whale dominance in SHIB has increased in October and November and hopes of a new listing could be on the cards. Rumours are rife that Robinhood will get SHIB on board but none of the claims are confirmed. However, a Robinhood listing will give Shiba Inu a boost in price as it would open the floodgates of new customers.
SHIB is experiencing a dip since two days and whales are lapping it up and making use of the opportunity. The slump is undoubtedly healthy and the correction is rightful. Every token dips after climbing the stairs in a row and investors are indulging in profit bookings.
The dip is also an opportunity to buy many more tokens and wait for it to shoot up further. With the current hype around the coin, its fizz will not fizzle out anytime sooner. SHIB is expected to knock out a zero from its trade by the end of 2021. Also, if Robinhood listing gets confirmed, the token could delete two ‘zeroes’ from its trade.
Shiba Inu at the time of publishing was trading at $0.00004751 and is down -7.1% in the 24-hours day trade.