Possible Reasons Why Investors Are Stocking up on Shiba Inu -Breaking
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Investors are stocking up on Shiba Inu for a variety of reasons- The large whales are scrambling for SHIB supplies.
- Bitstamp has announced the listing of SHIB.
- Shiba Inu’s team provided an update to the community regarding the distribution of rewards for the LEASH LOCKER function.
Large Ethereum whales are scrambling for Shiba Inu Shiba Inu (SHIB), to add to their portfolios. Despite recent price drops, these large Ethereum whales are still stocking up on Shiba Inu (SHIB) in their portfolios.
Bitstamp (Europe’s largest cryptocurrency exchange) announced the listing of SHIB. Bitstamp allows users to now trade SHIB on the exchange for USD or the euro.
As soon as the token has enough liquidity, full trading of Shiba Inu will begin.
Another reason for the bullish outlook on SHIB is the fact that the Shiba Inu team updated the community about the reward distribution on the LEASH LOCKER feature in SHIB’s metaverse.
Shib Army members who have locked their LEASH over a shorter time period are now eligible to access their assets and receive rewards. In exchange for the LEASH tokens they have locked, rewards holders will receive 3% from the Land Event Sales in metaverse.
Dogecoin-killer is also being rediscovered because the SHIB burning rate grew by 113% overnight. To date, approximately 410.36 Trillion SHIB has been burnt.
A further fact that you should acknowledge is the 100 largest Ethereum whales who have been building up SHIB. The 100 biggest wallet addresses on Ethereum hold roughly $500 million of SHIB.
Lastly, it seems like there might be a trend reversal in SHIB’s future. Even though there is a descending triangle in SHIB’s chart, the price could still break through if the price breaks through the upper border of the pattern.
Price chart for SHIBUSDT Source: FXStreet
Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. This article is not intended to be used as investment advice. CoinQuora advises its users to research cryptocurrency before making any investment.
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