Shiba Inu has lost a major chunk of its value in the bear market. But the ETH whales are still buying SHIB.
ETH whale Gimli purchased 386 billion SHIB, and BlueWhale0159 bought 147 billion tokens. Total purchase: 533 Billion. But everyone's asking, why?
Crypto is highly volatile at present. So, buyers' interest is counterintuitive, especially to investors who are afraid.
But for industry experts, there are signs of positivity. For observers, the SHIB stars are aligning at the right time.
The stance of the US SEC hasn't been as negative as before. Even recent statements by Jerome Powell haven't been as gloomy as in March.
With Bitcoin jumping to 24K and ETH touching 1.6K, there seems to be new hope for rekindling buyer interest in the market.
At the same time, the SHIB burn rate is increasing fast due to the efforts of a strong and unified SHIBArmy.
Moreover, the lead Shiba Inu developer has also dropped a hint about SHIB: The Metaverse, driving positive sentiments.
Now, Shiba Inu has five tokens – SHIB, BONE, LEASH, TREAT, and SHI. The ecosystem is growing as we speak.
Despite the bear market, many signs point to a breakout. But what really happens, only father time will tell.