Whale Grabs 74.9 Million SHIB On the Dip After It Dropped $600 Million of Its Market Cap

Whale Grabs 74.9 Million SHIB On the Dip After It Dropped $600 Million of Its Market Cap

According to an article by FXstreet, a large crypto investor has purchased a massive amount of Shiba Inu meme cryptocurrency – 74.9 million SHIB tokens – after the price of the asset plummeted on October 14 and SHIB declined from its top 14 spot to the 21 position on CoinMarketCap.

Since October 11, Shiba Inu has lost around two billion dollars of its market capitalization, dropping from $12 billion to $10 billion.

Whale buys over $1.9 million of SHIB

Recently, the meme-coin inspired by the Shiba Inu dog breed and proudly called a “Dogecoin killer” by its growing community has become one of the crypto trends and demonstrated a rally of more than 300 percent in one week.

On October 7, it reached a high of $0.00003314. However, it was still almost 30 percent below its all-time high of $0.00004999 achieved on May 10.

By now, SHIB has declined by 31.95 percent, trading at 0.00002404 on Binance.

Meanwhile, as the coin plunged, a cryptocurrency whale invested almost $2 million, buying Shiba Inu. As reported by U.Today earlier, this is not the first whale has purchased eye-popping amounts of SHIB recently.

Before the aforementioned rally started, another anonymous whale purchased first 6 trillion SHIB in a single transaction and two days later bought three lumps that totaled 276 billion coins. Experts believe that these purchases were among the reasons for the SHIB’s 300 percent rally.

Shiba Inu listed in India, Turkey, Austria

As reported by U.Today earlier, Shiba Inu has recently been listed on the oldest crypto exchange in India – ZebPay – which serves over four million customers on a regular basis.

Last week, the support for SHIB was also added by Austria-based fintech company Bitpanda that has been funded by the billionaire Peter Thiel’s venture investment firm. Recently, also the news has been spread that the largest crypto exchange in Turkey – BtcTurk – also plans on listing this Dogecoin rival soon.

As a reminder, earlier this year, two major crypto exchanges also began trading SHIB – Coinbase (in September) and the Binance crypto giant (in May, when the coin reached the all-time high).

According to the recent data published on Twitter, SHIB has been getting more mentions than Bitcoin, Ethereum, DOGE, ADA and other top-ten altcoins. Besides, a lot of investors in meme-coins prefer Shiba Inu to FLOKI.