Shiba Inu Update: Whales Buy The Dip, Bloomberg Remains Negative, Robinhood Waits

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Last Updated on 13 November 2021 by CryptoTips.eu

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / [email protected]
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Shiba Inu, the Dogecoin wannabe memecoin that is eclipsing it’s famous predecessor in terms of price rise in 2021, is being bought in the billions during the dip apparently. According to data gathered by WhaleStats, whales have been eagerly buying up the Shiba Inu dip in the past few days, not in the millions of tokens, but in the billions at a time.

Robinhood’s COO remains cautious as to ever listing the popular crypto and Bloomberg’s most famous crypto analyst, Mike McGlone, fears gravity might soon catch up with Shiba Inu. An overview of the latest action.

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Whales buy the dip

At a price point of $0.00005148 and a price rise that accounts several thousands of percentage points this year alone, it is not too surprising that crypto whales are buying the dip. According to data gathered by WhaleStats:

The average amount of purchased SHIB tokens was 20 billion. Not to mention that Whales have been continually adding up more SHIB tokens following each dip starting from October 28.

Mike McGlone, Bloomberg Intelligence senior commodity strategist is no stranger to those reading up on crypto. He’s been bullish on most established coins like Bitcoin and Ethereum for years now and has advised many on Wall Street to get in early.

In his latest edition of the Bloomberg Crypto Outlook, McGlone discussed Shiba Inu as the coin had in the past month (briefly) entered the top 10 of most traded cryptocurrencies.

Mike however predicts gravity is “likely to overcome Shiba Inu” and claims that “when the Shiba Inu game is up, the problem we see is that many assets could be prone to risk-off sentiment.”

Robinhood COO speaks up

Earlier this week, Christine Brown, the chief operating officer of popular trading platform Robinhood, claimed that the company is not in a rush to add new cryptocurrency coins, immediately dashing the hopes of all those who had signed a petition to list the popular meme coin Shiba Inu.

Christine explained:

Our strategy is a little bit different than a lot of the other players out there who are just racing to list as many assets as possible right now.

We think that the short-term gain we might get is not worth the long-term tradeoff for our users.

The ShibArmy was not amused.