Shiba Inu Price Plummets, Whale Activity Surges

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Whale Accumulation May Spur Shiba Inu Price Rise

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Popularity Affect Shiba Inu Price

CoinGape

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Will Shiba Inu Price Rebound Soon As Whales Accumulate Amid DAO Plans?

Summary

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63% Informative

Whale activity increased over the last 24 hours as the price dropped, suggesting large investors may be looking to top up their bags at discount prices.

This surge in whale activity coincides with the Shiba Inu community’s efforts to enhance the ecosystem through plans to launch a decentralized autonomous organization (DAO). Meanwhile, retail traders took the opportunity to make a few bucks by shorting the asset.

While the SHIB price risks an extended 6% drop following the recent market drop instigated by Bitcoin , whales are rushing in to buy more tokens.

The current price downturn is a market-wide phenomenon, and, similar to August 5 , the recovery may be stronger.

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