• Shiba Inu has dropped 4% in value during the past 24 hours.
• Ethereum whales have shown signs that they are buying this dip.
• Large Ethereum Whales Are Currently Scooping Up Shiba Inu
Shiba Inu Price Drop
Shiba Inu (SHIB) has dropped 4% in value during the past 24 hours, with its price trading at $0.00001315 at the time of writing. Despite the drawdown today, it looks like the Ethereum whales are still unfazed, as data from the whale tracker service WhaleStats shows 500 of the largest investors in the market have rather been buying more of SHIB in the past 24 hours.
Despite today’s drop, SHIB is still in green for the past week with 7% gains and 24% profits over a month period. On other hand, Dogecoin only managed a 5% profits and 6% uplift respectively during these periods.
Ethereum Whales appear to be looking at this dip as a buying opportunity as they continue to hold bullish convictions about Shiba Inu’s future performance. The degree of their purchases hasn’t been too strong today, but it should still be positive for existing investors of SHIB.
What Does This Mean?
The fact that Ethereum whales are continuing to purchase Shiba Inu even after its drop suggests that these large holders see potential long-term gains from holding onto this asset despite short-term fluctuations in its price action. Therefore, existing investors may want to consider taking advantage of this dip as well and add more SHIB tokens to their portfolios before it rebounds again in value.
It looks like Ethereum whales remain undeterred by any drops in Shiba Inu’s price action and instead keep investing more into this asset due to their bullish outlook on its future performance. This could be seen as an encouraging sign for all other existing investors who might want to take advantage of this dip and add more SHIB tokens before its price rebounds again soon.