The Shiba Inu took over the air in October due to its unusual ascent. Strangely enough, however, SHIB made it onto the list of coins that lost most of the month’s prize. Perhaps it is time for investors to consider investing in this coin meme.

SHIB drops for the whole month

Although November 26th was a bad day for all altcoins, SHIB’s situation was not limited to that day. After the coin’s meme was removed from the top 10, it fell regularly in November, leaving its investors at a loss.

While yesterday saw the biggest drop in November for the entire crypto market, it wasn’t for SHIB, as it slumped more than 20% in November.

Since then, the price has fallen into a downtrend and investors have continuously lost profits. At the time of going to press, SHIB had lost more than 50% of its profits during the October rally.

Source: TradingView

Around 100,000 investors – who hit an all-time high of $ 0.00003135 – are becoming the biggest losers right now. But not only that, 39% of all SHIB investors are currently at a loss.

Source: Intotheblock

However, it looks like SHIB investors are preparing for a bull run.

At the time of writing, the number of SHIBs sold equals the quantity purchased. Chances are that whales will accumulate more SHIBs.

Source: Intotheblock

Throughout the month they were very active with an average volume of $ 200-300 million and even that number exceeded $ 1 billion on November 26th.

Source: Intotheblock

Also, with whales controlling 68% of supply, it wouldn’t be surprising if this group were to buy more.

Source: Intotheblock

However, SHIB’s loyal army continued to grow when the network hit the 1 million owner milestone on November 25th.

Join Bitcoin Magazine Telegram to keep track of news and comment on this article: https://t.me/coincunews

Annie

According to Ambcrypto

Follow the Youtube Channel | Subscribe to telegram channel | Follow the Facebook page