64% Shiba Inu hodlers are still profitable, whales are buying 99 billion SHIBs while the price is recovering by 30%

The recent correction in the crypto market has affected smaller altcoins on the same scale as the large ones. During this sell-off, SHIB lost about 35% of its previously gained value, but rebounded 30%.

Strong recovery afterwards dispose $ 400 million

Previously, Shiba Inu Wal and the great owner sold $ 400 million SHIB but bought back about $ 100 million. Strong selling pressure arises after the token has lost a few percent of its value.

SHIB 4-hour chart | The source: TradingView

The recovery movement started after a strong purchasing power of the big retail money. Bitcoin, ETH are rebounding 1% at press time and SHIB is following the bigger coins.

According to market and on-chain data, the Shiba-Inu whale is in no hurry to buy back large quantities of tokens after the massive sell-off. The volume indicator shows that the market is still cautious and most traders avoid large orders and trades.

Most of them still Yes sir word

According to IntoTheBlock indicator, although the SHIB correction drastically reduced the value of the token by more than 60%, the majority of holders were still profitable.

The source: IntoTheBlock

A total of 64% of SHIB holders trade or hold tokens at a profit, while less than 30% of traders lose money, 7% of holders break their costs.

If SHIB loses another 14% of its value, most of the market will lose, resulting in increased selling pressure. This will worsen the current status of the token.

Whales buy VND 99 billion SHIB When price to prohibit

follow Whale stat, a whale has just added SHIB 99 billion worth $ 3,799,999 to its portfolio. SHIB price is bouncing back after hitting a low of $ 0.0000321 during the market sell-off on December 4th.

SHIB whales often take advantage of periods of sharp price declines or micro-consolidation to increase their populations, with millions of dollars pouring into SHIBs in such cases.

This time it was no different when a BNB whale added 99,999,999,999 SHIB or $ 3,799,999 to its stocks. The numbers come after the tracking platform WhaleStats analyzed the top 1000 ETH wallets.

On December 3, major corporations steadily amassed tokens after an impressive 800% rally in October.

SHIB is considered a DOGE replacement meme token that operates on Ethereum. This altcoin has steadily increased in price over the past 12 months and has at some point outperformed DOGE to become the 10th largest cryptocurrency by market capitalization.

SHIB currently ranks 13th on CoinMarketCap data, trading at $ 0.00003768 at press time, up 8% over the past 24 hours.

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