Shiba Inu: Whale buys 171 billion tokens

While many Shiba Inu owners are panicking about another drop in prices, they sell their tokens, whales strike.

After the larger sell-off across the cryptocurrency market, Shiba Inu whales are taking the opportunity to buy more tokens. Exactly in this market state, a whale takes the opportunity to buy 171 billion tokens.

The first major transaction popped up on the blockchain a day ago when the whale bought SHIB token worth $ 6 million. The token traded around $ 0.000049 after a major correction.

Eleven hours after completing the first order, the whale appeared to have decided to buy another, smaller portion of Shiba-Inu tokens valued at $ 2.3 million when Shib fell even lower to $ 0.000048.

With increasing control by whales, market participants expect a turnaround. After SHIB hit its previous all-time high, the percentage of whales in the network plummeted slightly, resulting in a larger correction of 45% in less than a week.

With the number of whales increasing, retailers no longer make up the majority of the market. Unlike small traders, whales tend to hold their positions until new highs are reached.

SHIB is currently trading at a new local low of $ 0.0000479 after falling another 10% yesterday. According to trading volume, retailers are now almost 98% less interested in speculating with the Shiba Inu token.

The main reason for the rapidly falling interest is the strong loss of value of the token, which with a further 40% correction will return to the original price level from where the token was pumped. This is unlikely due to the strong sales and the barely apparent purchasing power in the market.

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