SHIB whales bought 20 billion tokens each during the last sale
The falling value of the Shiba Inu digital currency does not bother cryptocurrency whales. During the last SHIB sale, each major investor bought another 20 billion tokens.
The pullback in Shiba Inu's price has raised concerns among traders, experts say, but the big market players, also known as whales, are not worried about price changes. After every drop since October 28, 2021, whales have accumulated even more tokens.
According to the analytics service watcher.guru, the purchase of SHIB tokens from whale-level addresses will remain at $ 1 million.The average number of purchased tokens since October 28 is 20 billion.
Ethereum became the second digital currency actively purchased by large investors. The average purchase amount for ETH is $ 176,000 (39 ETH).
According to experts, the interest of cryptocurrency whales has a twofold interpretation. On the one hand, it is a good sign for the cryptocurrency sector, since there is a pool of large investors who control prices in the market.
They can influence the situation and change the direction of the trend. But on the other hand, in the event of massive sales, whales can bring down the value of the cryptocurrency or cause a strong correction. This is usually rare, and the value of a cryptocurrency is more often affected by the activity of retail wallets.
The pressure of sell orders placed by retail traders, according to experts, is the main driver of the correction in the cryptocurrency market. As the share of retail wallets declines, the activity of selling digital currencies decreases.
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