Friday, December 3

Shiba Inu’s biggest whale moves coins and price plummets


The biggest Shiba Inu holder (SHIB) has started moving its coins after seven months of inactivity. In all, he’s already moved more than half of his SHIBs to four other addresses.

Apparently, the billionaire did not sell his SHIB, however the price of the currency already accumulates a daily loss of 8% in its value. This drop represents the fear of the market as the sale of these coins could represent the end of an era.

This week the term Shiba Inu was one of the most searched on Google in Brazil, this search also made it the 3rd most searched cryptocurrency in the year, worldwide.

the billionaire

This whale invested around R$ 60,000 in August 2020 and, just over a year later, his SHIBs turned him into a billionaire. The owner of this address even accumulated the equivalent of 31 billion reais in SHIB at the currency’s price peak on October 26th. This placed him among the 500 richest people in the world.

However, investor optimism appears to be running out. This Tuesday (02), the billionaire moved a total of 40 trillion SHIB to four other addresses, indicating he is ready to dump his coins on the market.

Shiba Inu Drives by Whale. Source: EthPlorer

As a result, Shiba has dropped 8.4% in the last 24 hours, falling behind Dogecoin, its rival currency, in market value. Note that the billionaire will have to sell his coins in pieces to not move the price of the coin due to its liquidity, however this may cause panic in other holders.

Trend

Last Wednesday (27), Shiba Inu was the 15th most searched term on Google in Brazil. In total, more than 50,000 searches were made that day alone, according to Google itself.

In addition, so far it is the third most searched cryptocurrency, also on Google, of the year. Second only to the two largest, Bitcoin (BTC) and Ethereum (ETH).

With that, several people like Edward Snowden went public talking about the care that people should be when investing in dog coins like Shiba, Doge and others. Warning so that people don’t think they’re smarter than the market, made up of whales like this one in the report, which is ready to dump its coins.





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