The cryptocurrency market continues to mutate constantly every day. Throughout the last few weeks we have seen a huge number of currencies suffer drops or drastic changes both in price and in movements by whales. The last currency affected by all this is Shiba Inu and we will see what is happening.
The first thing to keep in mind is that Whales are companies or subjects that own huge amounts of cryptocurrencies. The most common example is having 1,000 bitcoin units, making their influence and movements have great weight in the sector of these virtual cryptocurrencies.
Leaving aside the explanation, let’s see what is happening with Shiba Inu and the whales that support this virtual currency. And, is that, the situation of this cryptocurrency is not the best since according to the latest data that is known the price has decreased by 74.8% throughout 2022 compared to the previous year.
What are the whales doing? Moving huge amounts of these cryptocurrencies from one wallet to another. In total it has been possible to see that these movements include 5.6 billion Shiba Inu or what would be 52 million dollars have been transferred over the last 24 hours.
Shina Inu whales are constantly on the move
Transactions with shiba Inu have been paused and now it seems that this currency is being stored constantly both by users and by the whales themselves. The reason behind these movements by the whales is not known for sure, but there are several theories that could shed some light on the matter.
Among what has been learned, it seems that the whales are accumulating due to a cabinet change taking place within the exchanges. Due to this, what is being generated is a situation in which the Shiba Inu is having a leading role never seen before and, therefore, there is talk of a progressive increase in its price.
Over the last few hours the accumulation of Shiba Inu has caused its price to increase by 3.86% which, although it is not too much, is always a good news taking into account that this cryptocurrency It has always been treated as if it were a meme for the community of users who fully trust this market.
