A whale stat data has revealed that a crypto whale has improved his investment portfolio with the addition of 99.5B SHIB. The whale investment coincides with the time SHIB is about to rebound following the flash crash of the entire crypto market this past weekend.
In the heat of the crash on December 4, SHIB dipped to as low as $0.00003212. Most crypto whales usually use the dip periods to increase their crypto asset holdings. As widely reported in various media, there has been an increase in institutional investments into altcoins, and not just BTC, especially after SHIB’s rallied by 850% two months ago.
🐳 A BNB whale just bought 99,999,999,999 $shib ($3,799,999 USD).
Ranked #2 on WhaleStats: https://t.co/DdbtrDUvAJ
— WhaleStats – the top 1000 Ethereum richlist (@WhaleStats) December 7, 2021
Shiba Inu is often touted as the Dogecoin killer and has performed excellently since the beginning of the year. Last month, it even surpassed Dogecoin temporarily on the crypto rankings before the number-one meme-coin, Dogecoin, reclaimed its spot again. The current Coinmarketcap rankings put SHIB in 13th place. As of this writing, it has gained 9% and trades at about $0.00003725.
Top Travel Agency Supports SHIB Payments
Travala, a crypto travel agency, has announced that it now supports SHIB payments following a poll in which the audience was to choose between payments in SHIB or Floki Inu. Almost 5m votes were recorded, with about 70% of them choosing SHIB over Floki Inu. Travala is the latest company to support SHIB payments. Shiba Coffee, AMC, Newegg, and NOWpayments are notable companies supporting SHIB payments for their products/services before Travala.
— Shytoshi Kusama™ (@ShytoshiKusama) December 7, 2021
This increased use cases for SHIB is one of the reasons why many crypto enthusiasts are bullish about the dog-themed digital asset. Travala announced via Twitter, with the SHIB army rejoicing at the news via their comments to the information. It is worth noting that the travel agency supports other cryptocurrencies before it now supports SHIB.
SHIB Reclaims $20B Market Cap
The general crypto market is gradually recovering from the shocking decline over the weekend, and SHIB is no exception. While BTC led the recovery, as usual, the altcoins (particularly SHIB and MATIC) made the most significant recoveries. SHIB’s 9% gains over the past 24 hours have seen it become a $20B market cap cryptocurrency again.
SHIB has been steadily declining after setting a new peak price six weeks ago. Before the decline, it rose in the crypto rankings to become the eighth-ranked crypto. Despite its price performance, it remains second behind the doge in the valuable meme coin rankings.
SHIB Price Movement
SHIB has established a symmetrical triangle shape in the 4-day chart. The 4-hour chart indicates its descending movement following its peak price as of October 29. The price dipped further to a 6-week low four days ago as the SHIB struggled to use the $0.000035 price point as a springboard for a new bullish run.
The RSI (in the last 24 hours) attempted a cross past the mid-level but got rejected and is now heading downwards. The directional movement index also remained bearish, with the average directional index indicating a weak trend direction.