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ETH whale “Light” buys around 200B Shiba Inu of worth $6.5M

Shiba Inu

TL;DR Breakdown

  • Shiba Inu whale grabs $6.5 million coins
  • The coin can outpace and witness the $1 mark soon if it keeps the performance high

A recent tweet by Whalestats noted that the famous Ethereum Whale “Light” bought 199,999,999,999 Shiba Inu (roughly around 200 billion) worth $6,535,999 as per current price. This is another big news contributing to the surge in SHIB price. 

The coin has risen more than 22,000% in the last six months, and this has been one of the best performing weeks for the Shiba Inu. The coin saw a rise from $rose 300% in just a week. On October 3, the coin price was as low as $0.00000765, which suddenly increased to $0.00003498 with just five green candles on the daily chart.

Before this, on October 1, a big SHIB whale grabbed 6 trillion coins, and further, the same whale bought billions of coins on October 2. The price suddenly spiked after that.

Will Shiba Inu reach $1?

At the start, Shiba Inu whitepaper and promotional campaigns did not aim to bring the coin to the $1 mark. The recent performance of the coin made experts believe that it can very soon outperform Dogecoin (DOGE). Due to this reason, SHIB is also nicknamed Dogecoin Killer. 

The Shiba Inu describes itself as a token that can remain well under a penny and still outpace Dogecoin soon. However, SHIB lovers and crypto market analysts believe that there are various factors through which we cannot deny that the coin will never reach $1.

So, the biggest question of all will it touch the $1 mark? To reach 1$, it has to grow around 4,000,000%. If the coin keeps its speed high and works as the current performance, we can see SHIB touching the $1 mark in the future. 

The supply of the coin is unlimited, but it has started burning 1% coin per day to control inflation. This reduces the supply and increases the valuation of the currency. Experts predict that SHIB can increase at least 10 times by 2022.

Anisha Pandey

Anisha Pandey

A professional content creator, Anisha has ghostwritten ebooks on blockchain technology and cryptocurrencies. Consistently sharpening her writing skills, she believes in achieving results by working diligently and smartly.

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