Fri. Mar 1st, 2024

According to data published by Whalestats, the “Light” whale wallet bought 49,998,916,299 Shiba Inu (SHIB) tokens, worth $1,211,473. The whales were using the bathroom to pocket their best coins, and it turns out the Shiba Inu is one of the favorites. With Russian troops storming into Ukraine, the world was clouded with a lot of uncertainty. And Russia’s actions are costing everyone dearly. The crypto market witnessed a bloodbath, with the prices of every major token falling. However, as some believe, each dip offers an opportunity to grow, or to put it simply, “buy the dip.” That is exactly what the great whales have been doing. With prices volatile, the “Light” wallet, one of the largest Ethereum whales, went on to use the drop and make big purchases.

Are the whales optimistic about Shiba Inu?

Shiba Inu is a popular cryptocurrency among whales Binance Smart Chain [BSC] and Ethereum [ETH], so it’s no surprise that they are using the price drop to stock up on more Shiba Inu (SHIB) tokens. According to CoinGecko, the Shiba Inu is down 15.3% on the 7-day chart, but saw a 9.5% gain in the last 24 hours. Although the market is still on a bearish curve, the whales are not in a panic yet. At the time of publication, the Shiba Inu was trading at $0.00002397.

Recent SHIB Developments

In a recent AMA with Watcher Guru, the Shiba Inu team revealed some of their upcoming endeavors. The keynote speaker was Queenie, SHIB’s Discord moderator, as well as influencers Archangel and Shib Informer. However, Shytoshi Kusama, the lead developer of ShibaSwap, was available in the ‘chat’, while former Activision CEO William Volk talked about his upcoming games. Doggy DAO was the first topic to be discussed. The team has stated that the development that started a week ago is just the Beta version. Only BONE holders have access to peer voting in the ShibaSwap ecosystem at this time. Archangel also revealed that ShibaSwap 2.0 will contain a dedicated “recording portal.” He stated that ShibaSwap 2.0 will include ‘burn’ methods to reduce the circulating supply. Additionally, the upcoming Shiba Inu Metaverse, Shiberse will see 99,000 lands released, according to the team. The launch will be a 10-day ‘ground event’, during which Leash holders will have priority access to SHIB land to browse, bid and purchase.

By Farwa Raza

Farwa Raza is a writer who specializes in news articles. She has been writing on for over one years, and during that time she has written over 100+ articles on various topics ranging from politics to entertainment. Her goal as an author is to provide readers with the latest news stories while also providing her own opinion on them.