From miracle coin to be stamped in just one week. Japan’s nicest dog token has just suffered a huge drop in its valuation and there is a person behind all this.
If you remember a few days ago we told you that Shiba Inu had starred in enormous growth (here other alternatives), so much so that a person who had invested a huge amount of money took the record for individual earnings based on cryptocurrencies.
This was possible thanks to the fact that the coin cost only a few cents and the investor got several million coins. As soon as it was revalued, his assets exploded, making him a millionaire.
Well, now we are facing a totally different situation, since the currency has just collapsed after a crypto whale (as the big forks are called) dumped its coins.
The fall has been 23%, which corresponds to the $ 2.3 billion he has raised by selling some 40 billion Shiba Inu coins.
The quote stood in $ 0.00006066 at the start of the day and is now at $ 0.00004730, dragging Shiba Inu to 11th place on the valuation list. of the cryptocurrency market, at $ 26.23 billion, after reaching its record of $ 51 billion recently.
The crypto whale appears to be the second largest investor in the coin, which has caused that when selling all its possessions the currency saw how it lost strength and weight in the market, with the consequent drop in stock market valuation.
Right now Elon Musk must be very happy, since for months the CEO of Tesla has tried to bring down this coin, since his personal bet has always been his crypto rival, the Dogecoin. We’ll see how Shiba Inu ends at the end of the day, but it doesn’t look good for investors.