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Shiba Inu: What influence do the whales have on the SHIB price?



The Shiba Inu course has been rather inconsistent in the last few days. However, the Shiba Inu coin adoption is making great strides. At the same time, however, we should also ask ourselves what influence Shiba Inu investors with large positions in SHIB could have on the Shiba Inu price.


The Shiba Inu price made a new all-time high of $ 0.00007959 on October 28, 2021. Since then, we've seen high volatility in the SHIB price and its price drop to $ 0.0000533. In the past 7 days, the Shiba Inu course has gone down about 6 percent .


Nevertheless, the majority of SHIB investors are still making a profit: More than 70 percent of SHIB wallet addresses are in the black. Only 17 percent of Shiba Inu investors have not yet been able to take a profit.


According to CoinMarketCap, Shiba Inu is still in 11th place in terms of market capitalization - so this cryptocurrency is a meme token that we can no longer ignore. We are also seeing more and more integration on the part of crypto exchanges and companies.


Shiba Inu course: what influence do the whales have?

If we take a closer look at the metrics of intotheblock, it is noticeable that 78 percent of the available Shiba Inu Coin amount is in the wallets of large investors. These big investors, whales, hold at least one percent of the total supply. Selling large quantities of Shiba Inu Coins could affect the SHIB price.


For comparison: With Cardano, only 28 percent of the supply is in the wallets of the whales, with Bitcoin it is 11 percent and with Ethereum a full 42 percent.



Whales hold an above-average position compared to the overall market. And if such a large investor moves, this usually has a ripple effect on the market and thus the Shiba Inu price. In this way, major Shiba Inu investors could also steer the market in the direction that is favorable to them - although we are already on the verge of market manipulation.


Shiba Inu tokens integrate into the crypto world

What started out as a meme token seems to be turning into a cryptocurrency that can no longer be ignored. Because meanwhile one of the leading Indian crypto exchanges has also decided to list Shiba Inu. And from some other meme token listings on Indian exchanges, we know that this could attract some new small investors to the area - this in turn could have a positive effect on the SHIB price.


The Indian crypto exchange CoinDCX decided to make the Shiba Inu tokens part of the trading offer due to the great demand. Incidentally, the crypto exchange Gemini Shiba Inu also listed.


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