Shiba Inu (SHIB) added a zero to the price as it returned to the last seen level in early October 2021. The coin reached an all-time high of $0.000088 on October 28, 2021. After trading for some time near support at $0.000010, the bull faction lost control amid the latest fall in market prices. SHIB fell to a low of $0.0000083 on June 12. The next stop could be close to $0.000006 if this support is lost.
To rebound on the uptrend, the buyer may have to push the price above the $0.0000146 barrier, or the price may return to its current consolidation range. According to WhaleStats, Shiba Inu has returned to the top 10 most considerable assets based on the trading volume of 500 ETH whales in the last 24 hours.
At the time of writing, Shiba Inu was trading down nearly 11% at $0.000008. This has caused the average SHIB balance and the value held by whales to drop. Currently, the top 500 ETH whales are accumulating $544,698,614 in SHIB.
Against a backdrop of widespread sell-offs, SHIB fell to 17th place in the cryptocurrency rankings by market capitalization, giving way to 16th place for Avalanche (AVAX).
As shared by core developer Shytoshi Kusama, SHIB was promoted in a radio show on one of the top-rated FM channels, “Urbana Play 104.3 FM”, in Buenos Aires, Argentina. Satoshi Kusama has also retweeted Welly’s tweet, saying that the final and public phase of Welly NFTs has begun, and the remaining NFTs are expected to be minted as soon as possible.
The leading developer of Shiba Inu claims that the NFTs were created to function as intelligent contracts for specific Welly locations. He said it was the only reason to start with a low price at 0.12 ETH.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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