• Whales have been buying up 10.25 trillion Shiba Inu tokens since last week, as the popular canine coin SHIB forms a descending bearish flag pattern on weekly charts.
• The Layer-2 solution for Shiba Inu, Shibarium, is in the works and will be launched soon; its gas fee token $BONE has dropped to a yearly low.
• Despite the price plunge, 97% of retail users on Coinbase are choosing to load up on SHIB instead of selling; while TOP 100 Ethereum whales are scooping up BONE tokens.
Whales Accumulate Shiba Inu as SHIB Price Freefall Continues
The bears are still holding their paws over the crypto markets, and the popular canine coin Shiba Inu (SHIB) is among the hardest hit in the altcoin section. As the leading digital asset, Bitcoin (BTC), just plummeted below the $28,000 price range, tokens in Shiba Inu’s Ecosystem recorded historically low values today.
Bearish Weekly Charts Grasp Whales’ Attention
Despite some significant advancement in Shibburn, the Japanese guard dog-themed token plunged by 10.9% in a week. This has led to one of the TOP 100 largest Ethereum whales shoveling 10.25 trillion Shiba Inu coins, while 97% of retail users on Coinbase choose to load up on SHIB rather than sell, the popular exchange’s metrics reveal. Technically, all four on-chain signals for SHIB are bearish. The red signals indicate a 1.61% drop in holders in the money; now only 14% of SHIB holders profit from this price. At press time, the canine coin trades at $0.00000904 with a 4.4% daily downturn, according to CoinGecko.
Shibarium in Progress, Developers Say
Earlier today Unification xFund assured that mainnet of Shibarium is in works and will be launched soon to give more utility to popular memecoin besides being an ERC-20 on Ethereum (ETH). On other hand Layer-2 scaling solution Shibarium will revolve around Bone ShibaSwap (BONE), which is gas fee token of mainnet despite heavy plunge last week below two consecutive key support lines BONE is among favorite cryptocurrencies acquired by TOP 100 Ethereum whales right now it trades at $0809163 according to CoinMarketCap data along with 542% rise over past 30 days period as per CoinGecko metric reports also show that BONE holds 071 BTC worth volume in 24 hours timeframe alone making it one of most traded cryptocurrency pairings across exchanges worldwide coupled with highest liquidity within its market capitalization class current deposit rates for BONE stands at 3449%.
Community Remains Supportive
The only cryptocurrency marketing you need is a community not ones who jump from one meme another but really strong gang many members proud know each other not only twitter but also discord went through lot but persistence pays off when no one believes long term goal success and rewards won’t come overnight community supportive always during hard times like current market conditions many strong holders keep accumulating SHIB these prices encouraging those inside out join hands together create bright future crypto space world wide markets remain optimistic about future prospects despite steep fall prices recently across board especially altcoins like SHIB which important part digital asset landscape thanks their innovative ecosystems projects development teams behind them remain positive journey ahead market rises again high levels prior bear run continues until then wise store wealth hold onto investments tight believe blockchain technology revolutionize financial systems every aspect life internet we live now future generations benefit technological advances taken place present day world economy evolves exponentially time goes all look forward bright horizon digital assets industry lies ahead us!.
The recent freefall of prices across board especially for altcoins such as Shiba Inu does not deter investors from accumulating more coins or discourage developers working towards creating innovative solutions such as Shibarium or Bone SwapaSwap gas fees token respectively which shows that there remains optimism about future prospects even during difficult times like these and encourages investors from both inside and outside crypto space alike to join hands together and create a brighter future for cryptocurrency markets worldwide