Shiba Inu (SHIB) Skyrockets 100% in Days Following a Big Whale Buy

by AA News, Crypto News, Dogecoin, SHIBBTC, SHIBUSD, social0 comments

An unknown SHIB whale purchased more than six trillion of the asset days ago. The token went on a roll in the following days and doubled its value, despite the recent TVL decline in Shiba Inu’s decentralized exchange.

  • By portraying itself as a Dogecoin-killer, Shiba Inu was launched to take advantage of the ongoing meme coin craze, which has countless investors rushing into the cryptocurrency space.
  • It even took it a step further than DOGE, which was simply created as a joke token, and released a decentralized exchange earlier this year.
  • Investors indeed seemed highly interested in Shiba Inu as the total value locked surged to nearly $2 billion in June and July. Now, though, the TVL has declined substantially to under $300 million, according to DeFiLlama.
  • Nevertheless, this has not stopped one mysterious SHIB whale from buying massive portions of the asset.
  • A recent transaction from late September showed that they had bought nearly 6.2 trillion of the token for approximately $44 million.
  • In the days that followed, the price of SHIB skyrocketed from roughly $0.0000715 to a daily high of $0.0000145 yesterday. This became its highest price level since mid-May.
  • However, SHIB is still a long way away from the all-time high reached earlier this year of $0.00003791, according to CoinGecko.
SHIBUSD. Source: TradingView

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