Warning: unlink(/tmp/jnewslibrary-Q5rDwB.tmp): No such file or directory in /home/customer/www/coinparative.com/public_html/wp-admin/includes/class-wp-filesystem-ftpext.php on line 142
What Happens After Whales Scoop 5.1 Billion Shiba Inu Coins? | Coinparative
Coinparative

  • News
    • Crypto News
    • Blockchain News
    • Altcoin News
    • Press Release
    • NFT News
    • Metaverse
    • Web3.0 News
    • Trending
  • Insights
    • Explainer
    • Research
  • Guides
  • Market
    • Market analysis
    • Market News
    • Reviews
    • Price Index
  • Videos 🚀
No Result
View All Result
  • About Us
  • Contact
  • jeet-detector-bot
    JDB(JDB)
    $0.00-0.61%
  • bitcoin
    Bitcoin(BTC)
    $0.003.66%
  • ethereum
    Ethereum(ETH)
    $0.006.34%
  • usdex-stablecoin
    USDEX(USDEX)
    $0.00-0.53%
  • tether
    Tether(USDT)
    $0.00-0.04%
  • binancecoin
    BNB(BNB)
    $0.006.75%
  • usd-coin
    USD Coin(USDC)
    $0.000.060%
  • ripple
    XRP(XRP)
    $0.003.87%
  • binance-usd
    Binance USD(BUSD)
    $0.000.070%
  • cardano
    Cardano(ADA)
    $0.007.96%
  • dogecoin
    Dogecoin(DOGE)
    $0.004.18%
  • matic-network
    Polygon(MATIC)
    $0.0014.64%
  • okb
    OKB(OKB)
    $0.0011.91%
  • solana
    Solana(SOL)
    $0.0011.08%
  • staked-ether
    Lido Staked Ether(STETH)
    $0.006.37%
  • polkadot
    Polkadot(DOT)
    $0.0011.19%
  • shiba-inu
    Shiba Inu(SHIB)
    $0.0012.00%
  • litecoin
    Litecoin(LTC)
    $0.005.95%
  • avalanche-2
    Avalanche(AVAX)
    $0.0016.41%
  • tron
    TRON(TRX)
    $0.004.62%
View All
Coinparative
Home News Press Release

What Happens After Whales Scoop 5.1 Billion Shiba Inu Coins?

April 1, 2022
in Press Release
250 2
A A
0
What Happens After Whales Scoop 5.1 Billion Shiba Inu Coins?
Share on FacebookShare on Twitter

The fourth-largest Whale on the Ether blockchain purchased 5.14 billion Shiba Inu coins in recent days, according to statistics from the WhaleStats website. Such investment purchases bring the total value of MEME tokens held to $119 million. The Ether Whale, anonymously known as “Tsunade”, recently spent a to buy colossal sum on large amounts of Shiba Inu coins while his/her asset wallet also includes $290 million worth of various cryptocurrencies. Despite this, the Shiba Inu coin remains Whale’s most active investment.

Not only that, but other whales are also investing like crazy to buy MEME tokens like the Shiba Inu coin. One whale invested to buy 3.7 trillion Shiba Inu coins worth $890,000 on March 20th. This is one of the largest single transactions in MEME token records.

What Is The Price of Shiba Inu Coins Now after The Whales Have Purchased?

However, despite the large number of Whales purchasing Shiba Inu coins, the price movement in the market still hasn’t changed much, and there is even some decline in the overall trend.

The price of the Shiba Inu coin has increased by 6.70% in the last seven days. It has been trending upwards over the last 24 hours, gaining 1.65%. The current price is $0.00002347 and its total market cap is $15.89 billion. The total amount of liquidity is 549.06 trillion. 24 hours of trading totaled $806.84 million. (Source: Gate.io March 24).

Such a price trend has formed a symmetrical triangle pattern for the entire Shiba Inu coin’s disk. Once the Shiba Inu coin breaks out of the currently formed price pattern, this will see a volatile spike.

Will The Price of Shiba Inu Rise?

The pattern of a symmetrical triangle means that a period of decline is accompanied by a period of spike. Many investors are bullish in the face of the current decline of the Shiba Inu coin, as they expect it to rise. However, is this going to happen? What other things are influencing the price fluctuation of the Shiba Inu coin?

1. NOWPayments Launches Token Burn/Destruction for the Shiba Inu Coin

NOWPayments is a noncustodial crypto payment processor. It has introduced a new feature for Shiba Inu coin users – the Destroy feature, which allows users to burn some of the Shiba Inu coins they have on hand themselves. Users just need to select the token to burn and NOWPayments will automatically calculate the number of Shiba Inu coins to be sent to the dead wallet.

The introduction of this new feature has made Shiba Inu coins even more scarce. This affects the price of Shiba Inu coins to some extent and attracts more investors who want to buy Shiba Inu coin.

2. Official Mass Burning of Shiba Inu Coins

On March 22, the Shiba Inu Coin community posted on Twitter that a total of 1,021,292,580 Shiba Inu coins had been burned in the past 24 hours through 41 removals. Not only that, but the Shiba Inu Coin also regularly burns tokens every month in smartphones and games sold in the app store. To date, 24.45 billion Shiba Inu coins have been burned.

Bigger Entertainment is also regularly burning large amounts of Shiba Inu coins. The company says that part of the proceeds from the sale of Shiba Inu coin merchandise, NFT products, event tickets, and games are used to purchase Shiba Inu coins, which are then burned.

The purpose of both the big Whale’s purchase investment and the Shiba Inu coin company’s periodic burn is to make Shiba Inu coins rarer, which in turn affects the price fluctuations of Shiba Inu coins and makes them rise. The symmetrical triangle phase is approaching, so please think about the riskiness of the Shiba Inu coin before you are ready to invest in it.

Source: ZyCrypto

Share196Tweet123Share34Pin44ShareSend

Related Articles

OKX and Manchester City stars launch immersive metaverse fan experience
Press Release

OKX and Manchester City stars launch immersive metaverse fan experience

February 2, 2023
1.4k
Israel’s Most Successful Web3 Businesses Collaborate To Host ETHTLV For Builders In The Crypto Community
Press Release

Israel’s Most Successful Web3 Businesses Collaborate To Host ETHTLV For Builders In The Crypto Community

February 2, 2023
1.4k
Peer Inc Onboards Team Of Elite Engineers, ‘Wonka’ Popular For Developing Zenly’s 3D Maps
Press Release

Peer Inc Onboards Team Of Elite Engineers, ‘Wonka’ Popular For Developing Zenly’s 3D Maps

February 2, 2023
1.4k
Blockchain Futurist Conference — Canada’s biggest crypto conference returns for fifth year
Press Release

Blockchain Futurist Conference — Canada’s biggest crypto conference returns for fifth year

February 2, 2023
1.4k
DeFi Startup TheADA Sets to Boost Accessibility to NFT Staking
Press Release

DeFi Startup TheADA Sets to Boost Accessibility to NFT Staking

February 1, 2023
1.4k
Fungify raises $6M to build new NFT lending primitive
Press Release

Fungify raises $6M to build new NFT lending primitive

February 1, 2023
1.4k
Load More

Discussion about this post

Coinparative

2022 © All Rights Reserved.

Coinparative specializes in the digital News and research on cryptocurrency, Digital Assets and Blockchain

  • Advertise
  • Privacy Policy
  • Terms
  • About Us
  • Contact

Follow Us

No Result
View All Result
  • News
    • Crypto News
    • Blockchain News
    • Altcoin News
    • Press Release
    • NFT News
    • Metaverse
    • Web3.0 News
    • Trending
  • Insights
    • Explainer
    • Research
  • Guides
  • Market
    • Market analysis
    • Market News
    • Reviews
    • Price Index
  • Videos 🚀

2022 © All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
DON’T MISS OUT!
Subscribe To Newsletter
Be the first to get latest updates and exclusive content straight to your email inbox.
Stay Updated
Give it a try, you can unsubscribe anytime.
close-link
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.

Warning: unlink(/tmp/jnewsfirstload-kltwCV.tmp): No such file or directory in /home/customer/www/coinparative.com/public_html/wp-admin/includes/class-wp-filesystem-ftpext.php on line 142