Despite the market crash, many crypto investors are buying the dips. But even at the time when a crypto king like Bitcoin is struggling to regain from loss, meme cryptocurrency Shiba Inu is signalling the rise of trends in the crypto investing world. On Tuesday, a BNB whale bought 99 billion Shiba Inu tokens worth $3,7999,999 as the meme coin recovers after touching a $0.00003210 low during sell-off on December 4.
This has been reported by WhaleStats, the platform that gives an analysis of the top 1,000 ETH wallets. Whales have been filling their bags with millions of Shiba Inu coins ever since its inception into the crypto market.
Another Ethereum whale 'Gimli' recently added approximately 28 billion of $SHIB to her/her portfolio despite the continuing bloodbath creating a buzz in the market and encouraging young investors to taking risk by trusting the meme coin.
Top crypto exchange platforms, such as Binance and Coinbase, have listed the Shiba Inu coin and the SHIBArmy is making efforts to see the Doge killer listed in Robinhood as well. However, Robinhood's chief operating officer Christine Brown had earlier said the company is not in a hurry to list volatile cryptocurrencies though he refused to comment on the prospect of listing Shiba Inu on its trading platform.
According to CoinMarketCap, SHIB was trading down by - 1.35% at $0.00003684 in the last 24 hours. Shiba Inu's price today is $0.000037.
Shiba Inu is currently ranked at number 13 in the cryptocurrency market with a market cap of $20.233 billion. Whales often grab an opportunity like this to increase their assets, especially when there's a dip in crypto price.
The price of meme currencies rises and crashes quickly, depending on the buzz on social media. While bitcoin has a finite supply, meme currencies like Shiba Inu's supply is unlimited. While investing in cryptocurrencies is risky, meme coins volatile.
The International Business Times advises investors of cryptocurrencies to be well aware of the latest trends in the cryptocurrency market and not fall prey for any rumors.