SHIB Price Can Face Troubles In Future As Top Whale Control 50% Supply.

SHIB Price Can Face Troubles In Future As Top Whale Control 50% Supply.

2021-12-29 | Daniel Smith

SHIB Price Can Face Troubles In Future As Top Whale Control 50% Supply.

For one Ethereum whale tier wallet, SHIB's pricing troubles have caused considerable finger-biting. As per statistics from the whale wallet tracking tool, WhaleStats, a wallet dubbed "Light" with Shiba Inu (SHIB) tokens as its top position is reporting about $3 billion in unexpected damages. Light, which stands fourth amongst the leading 1000 Ethereum wallets, has almost 38 trillion SHIB tokens, which are now valued at roughly $1.4 billion and account for 35.86 per cent of the wallet's worth. The wallet's worth has declined almost 45 percent from a peak of more than $7 billion in the first week of December to approximately $4 billion. Whilst the price volatility of SHIB has contributed a significant part to the whale's unrealized losses, it is not the sole source of the investor's problems. Shiba Inu has contributed around 23% to the decrease, from it has been selling at a 23% discount as of December. Some coins in the whale's bag that have led to the 45 percent loss include Ether, the wallet's second-largest holding, and Mana. These two coins decreased by around 30% when merged. Token (CRO) and Polygon are the only big assets in the wallet that are currently positive (MATIC). To trade or hoard? Shiba Inu investors are adamant about accomplishing the second Notwithstanding SHIB's dismal market history, data suggest that investors in the meme coin are not frantically dumping their holdings. As the whales persist in buying up SHIB, the meme coin remains to surpass the other coins as the largest token holdings by dollar value amongst the leading 1000 Ethereum whales. Their steadfastness in keeping SHIB may be vindicated, as the humor currency has been one of the highest functioning cryptocurrencies in terms of price-performance year over year. The price of SHIB has increased by more than 52 million percent. The Shiba Inu environment is also shaping up nicely for the future, with additional application instances for SHIB such as metaverse, gaming, and layer 2 scaling solutions on the horizon. The Shiba Inu network is also finding real-world applications as it is being used as a payment mechanism by organizations. Shiba Inu is now the second most valued meme coin in the cryptocurrency world, trailing only Dogecoin (DOGE). However, market researcher WatcherGuru predicts that the price of SHIB will shortly rise. According to the expert, the price of SHIB was hanging on to a crucial resistance level of $0.0000035. Depending on this, he expects a price increase of up to 42 percent, but the price must first surpass the important $0.000039 threshold to signal the start of the rise.

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