Shiba Inu had a minor setback, which is logical given its previous steady upward trend, but could make a new departure soon. A supermarket worker bought around USD 8 thousand worth of Shiba Inu, and the risky bet turned him into a millionaire.

The price of Shiba Inu (SHIB) continues falling, but large whales, brands, and corporations continue buying the cryptocurrency.

Short-term traders have abandoned their positions and most of the markets. Smaller altcoins, including Shiba Inu and Dogecoin, have suffered a higher loss compared to Bitcoin.

Sergio Turi, CEO of Inversiones en el Mundo, recently said Shiba Inu had a minor setback. That is logical given the steady upward trend that it had previously had.

The price seems to be accumulating, which suggests that it could make a new departure soon. If the pattern generated is correct, the value could increase by an extra 100% before the end of the year.

Some Whales Buy a Significant Amount of SHIB

Taking advantage of the SHIB immersion as an opportunity, some whales have purchased a significant amount of SHIB. Although the market does not seem to be turning bullish, they have confidently invested in the tokens.

Many experts in the cryptocurrency industry believe that investing in the SHIB memecoin is not a good idea. Despite their disapproval of the memecoin, the market seems not to listen, as more people buy and sell SHIB on their wallets.

On November 22nd, an anonymous person invested about USD 36.8 million to purchase more than 850,000 million units of Shiba Inu.

Before that, on November 17th, WhaleStats registered a high investment in Shiba Inu from an investor who bought 171 billion tokens for USD 8.3 million.

Some days earlier, an unknown investor acquired nearly USD 1.15 billion worth of Shiba Inu units.

The whales seem to know something that experienced cryptocurrency investors do not.

Online software retail company Newegg recently confirmed that it would accept Shiba Inu as a payment option.

A Supermarket Worker Becomes a Billionaire

Curiously, a supermarket worker invested around USD 8 thousand in the Shiba Inu memecoin. According to business magazine Fortune, the risky bet turned that family man into a millionaire in less than a year.

He said that he comes from a poor setting and never imagined having so much money.

The Performance of the Shiba Inu Memecoin

The value of Shiba Inu dropped by 16% at the peak but then rallied with a loss of 10% every day.

Shiba Inu earned about 30% in one day but then fell back to a daily profit of 15%.

Although some whales buy a significant amount of SHIB, the market does not seem to react. At the moment, the volatility of the SHIB token remains low.

Shiba Inu is trading at around USD 0.00003918 and has accumulated a loss of 4.6% in the last 24 hours. Its trading volume is above USD 1.7 billion, and its market capitalization is about USD 21.5 billion, according to CoinGecko.

The memecoin has lost 55% of its value since it last reached an all-time high of USD 0.000087.

By Alexander Salazar

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