Shiba Inu whales buy the dip after SHIB loses $600 million in market cap
- A large wallet investor recently bought 74.9 billion Shiba Inu tokens.
- ShibaSwap completes the sale of 10,000 NFTs.
- LEASH holders accumulate Shiboshis within 24 hours of launch.
- Turkey's biggest and oldest exchange BtcTurk lists SHIB, deposits and withdrawals soon.
- SHIB price drops after the massive rally.
Shiba Inu concluded a massive rally, and SHIB price plunged on October 14. Proponents were awaiting a Dogecoin flippening, however, SHIB dropped to 14th rank by market capitalization soon after.
ShibaSwap concluded sale of Shiboshis while SHIB price plunged
The sale of 10,000 "Shiboshis" NFTs on ShibaSwap was recently concluded. For the first 24 hours, exclusively LEASH holders could buy the NFTs.
The moment everyone has been waiting for, the announcement on the upcoming #Shiboshis release is here!
— Shib (@Shibtoken) October 13, 2021
Join us on Discord for more information #ShibArmy! pic.twitter.com/6crWJCVa9L
The entire NFT collection sold out within 35 minutes of launch, and sources close to the meme coin have revealed that plans for a Shiboshi game are underway. The source believes that the Shiba Inu development team is in talks with a world-class AAA game studio for its game production.
Though Shiba Inu initially gained popularity as the “Dogecoin-killer,” the meme coin has evolved in terms of its utility, jumping on the latest crypto trends.
On October 14, SHIB price plunged, and the altcoin has now slipped to 14th position based on market capitalization. Over $600 million was wiped off of SHIB market capitalization within minutes.
During the recent dip, a large wallet investor bought over $1.9 million worth of SHIB. SHIB whales are buying the dip and accumulating the meme token ahead of its recovery.
Purchase of $1.9 million worth of SHIB tokens
While SHIB holders are awaiting a rally, the cryptocurrency has plunged despite the latest updates in its ecosystem.
SHIB was recently listed on Turkey's oldest Bitcoin exchange BtcTurk. The exchange enables deposits and withdrawals at 12:00 PM UTC on Friday, October 15.
The Change.org petition for listing SHIB on Robinhood garnered 250,000 signatures before closing. The commission-free exchange is yet to announce a SHIB listing on their platform.
FXStreet analysts have evaluated the SHIB price trend and predicted that Shiba Inu would resume its bull run as the meme coin trades on a stable support.
Disclaimer: FXStreet has reached out to Shiba Inu team to get an official statement about the recent developments, but it has yet to hear back.
Author
Ekta Mourya
FXStreet
Ekta Mourya has extensive experience in fundamental and on-chain analysis, particularly focused on impact of macroeconomics and central bank policies on cryptocurrencies.
