The Shiba Inu handle seems to be still not over even though its price has plummeted after reaching a record high. The latest report shows that investors with large funds bought 74.9 billion in Shiba Inu's cryptocurrency assets early this morning after SHIB slipped from 14th to 21st place on CoinMarketCap.
Since Oct. 11, Shiba Inu has lost about two billion dollars in market value, down from $ 12 billion to $ 10 billion.
Of late, crypto memes inspired from the Shiba Inu dog breed and often referred to as a substitute for ‘Dogecoin’ by the crypto community have become a trend causing many investors to start participating by holding SHIB. Subsequently, the SHIB price has shown an increase of more than 300% in one week.
On October 7, the price of SHIB has reached $ 0.00003314. However, it is still less than 30% below the all -time high of $ 0.00004999 reached on May 10th. Currently, SHIB is down 30.00%, trading at 0.00002513 on Binance.
In the midst of this fall, the ‘whale’ group has invested nearly $ 2 million by buying Shiba Inu. On the other hand there are rumors that Turkey’s largest crypto exchange, BtcTurk, also plans to list this Dogecoin competitor soon.
Based on the latest data published on Twitter, SHIB is getting more attention than Bitcoin, Ethereum, DOGE, ADA and the other top 10 altcoins.
