As per the data released by Whalestats, ETH Whale, the “Light” wallet, purchased 49,998,916,299 Shiba Inu (SHIB) tokens, worth $1,211,473. Whales were using the dip to pocket their top coins, and Shiba Inu happens to be a favorite.
With Russian troops storming into Ukraine, the world was clouded with a lot of uncertainty. And Russia’s actions are costing everyone dearly. The crypto market witnessed a bloodbath, with prices plummeting for every major token. However, as some believe, every crash offers an opportunity for growth, or to simply put, “buy the dip”. That is exactly what the big whales have been doing. With prices volatile, the “Light” wallet, one of the biggest Ethereum Whales, went on to use the dip and make big purchases.
Are Whales bullish on Shiba Inu?
Shiba Inu is a popular cryptocurrency among Binance Smart Chain [BSC] and Ethereum [ETH] whales, hence it is of no surprise that they are using the dip in prices to stock up on more Shiba Inu (SHIB) tokens.
According to CoinGecko, Shiba Inu is down 15.3% over the 7-day chart but saw a 9.5% increase over the last 24 hours. Although the market is still on a bearish curve, whales are not in a state of panic just yet.
At the time of publication, Shiba Inu was trading at $0.00002397.
SHIB’s recent developments
In a recent AMA with Watcher Guru, the team at Shiba Inu revealed some of their upcoming endeavors.
The key speaker was Queenie, the moderator of SHIB’s Discord, as well as influencers Archangel and Shib Informer. However, Shytoshi Kusama, the principal developer of ShibaSwap, was available on ‘chat,’ while former Activision CEO William Volk discussed their upcoming games.
Doggy DAO was the first topic to be discussed. The team has stated that the development that began a week ago is only the Beta version. Only BONE holders have access to vote on pairs in the ShibaSwap ecosystem right now.
Archangel also revealed that ShibaSwap 2.0 will contain a dedicated “burn portal.” He affirmed that in ShibaSwap 2.0, ‘burn’ methods will be included in order to reduce the circulating supply.
Moreover, Shiba Inu’s forthcoming Metaverse, Shiberse will see 99,000 pieces of land liberated, according to the team. The launch will be a 10-day ‘land event,’ during which Leash holders will have first access to the SHIB lands to examine, bid on, and acquire them.