Shiba Inu Coin price plummets, but big players seem to be bottom fishing?

Market panic triggers a big drop

Shiba Inu Coin (SHIB) also suffered, dropping 12% in one day, reaching its lowest price in almost two months. On just that day, the trading volume exceeded 300 million dollars, indicating that many people are selling.

Currently, market sentiment is quite panicked, and it feels like prices may continue to decline. I mentioned before that if SHIB can't hold key positions, the risks are indeed significant.

Big players buy against the trend

Interestingly, while prices are crashing and everyone is selling, those “whales” holding a significant amount of Shiba Inu Coins worth over 100,000 dollars are going against the tide.

According to data tracking, within 24 hours of this price drop, these big players not only didn’t sell but quietly bought up to 500 billion Shiba Inu Coins! At the time's price, this amount exceeded 8.5 million dollars.

Big D’s view is: this kind of “buying more as prices drop” behavior usually indicates that these strong players feel the price has dropped enough and see it as a good “bargain” opportunity. Their substantial purchases can at least temporarily alleviate some selling pressure, preventing prices from falling too hard. This can be seen as a positive signal.

The buying from the whales acts like a “supporting” action, while the bullish sentiment from most users provides potential “buying” momentum. Personally, Big D feels this leaves a glimmer of hope for a short-term rebound for Shiba Inu Coin.

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