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Whale Grabs 74.9 Million SHIB On the Dip After It Dropped $600 Million of Its Market Cap

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According to an article by FXstreet, a large crypto investor has purchased a massive amount of Shiba Inu meme cryptocurrency—74.9 million SHIB tokens—after the price of the asset plummeted on Oct. 14 and SHIB declined from 14th place to 21st place on CoinMarketCap.

Since Oct. 11, Shiba Inu has lost around two billion dollars of its market capitalization, dropping from $12 billion to $10 billion.

Whale buys over $1.9 million of SHIB

Recently, the meme-coin inspired by the Shiba Inu dog breed and proudly called a “Dogecoin killer” by its growing community has become a crypto trend and demonstrated a rally of more than 300% in one week.

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On Oct. 7, it reached a high of $0.00003314. However, it was still almost 30% below its all-time high of $0.00004999 achieved on May 10.

By now, SHIB has declined by 31.95%, trading at 0.00002404 on Binance.

Meanwhile, as the coin plunged, a cryptocurrency whale invested almost $2 million, buying Shiba Inu. As reported by U.Today earlier, this is not the first whale to purchase eye-popping amounts of SHIB recently.

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Before the aforementioned rally started, another anonymous whale purchased the first six trillion SHIB in a single transaction, and two days later bought three lumps that totaled 276 billion coins. Experts believe that these purchases were among the reasons for SHIB’s 300% rally.

Shiba Inu listed in India, Turkey, Austria

As reported by U.Today earlier, Shiba Inu has recently been listed on the oldest crypto exchange in India—ZebPay—which serves over four million customers on a regular basis.

Last week, support for SHIB was also added by Austria-based fintech company Bitpanda, which was funded by billionaire Peter Thiel’s venture investment firm. Recently, the news has spread that the largest crypto exchange in Turkey, BtcTurk, also plans on listing this Dogecoin rival soon.

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As a reminder, earlier this year, two major crypto exchanges also began trading SHIB—Coinbase (in September) and the Binance crypto giant (in May, when the coin reached its all-time high).

According to recent data published on Twitter, SHIB has been getting more mentions than Bitcoin, Ethereum, DOGE, ADA and other top 10 altcoins. Besides, a lot of investors in meme-coins prefer Shiba Inu to FLOKI.

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Dogecoin Killer Shiba Inu to Start Trading on Bitstamp

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Despite snubbing Dogecoin earlier this year, Bitstamp has now listed rival Shiba Inu.

Bitstamp, one of the longest-standing cryptocurrency trading platforms in the world, has listed Shiba Inu (SHIB) in what appears to be one of the most significant endorsements for the meme coin to date.

Deposits and withdrawals have already been opened, with trading kicking off on Dec. 9 at 8:00 a.m. UTC.

Apart from Shiba Inu, Perpetual Protocol (PERP), dYdX (DYDX) and Gala (GALA) have also been added to Bitstamp.

It is worth mentioning that the aforementioned cryptocurrencies will not be available in the U.S. and Singapore for now.

As reported by U.Today, Bitstamp also listed Cardano (ADA) in late November.

Quality over quantity

Bitstamp, which was launched all the way back in 2011 as a European alternative to the now-defunct Mt. Gox exchange, is known for its strong emphasis on regulatory compliance.

Sticking to its conservative listing policies, the Luxemburg-headquartered exchange chose to ignore Dogecoin despite the immense retail interest that pushed the price of the original meme coin through the roof in early 2021.

Bitstamp CEO Julian Sawyer commented on the snub in September, claiming that the exchange chooses quality over quantity. He took issue with centibillionaire Elon Musk’s influence on Dogecoin’s price action:

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The issue is that if you go to some that are hyped up by a billionaire’s tweet, or crashes on a billionaire’s tweet, we don’t think that’s right.

Bitstamp remains the largest European exchange by trading volume.

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SHIBA INU Forecast December 8, 2021

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SHIBA INU is trading at the time of the publication of the forecast at the level of 0.00003715, and continues to move within the correction and the downward channel. Moving averages indicate a bullish trend. Prices broke through the area between the signal lines upward, which indicates pressure from buyers of the coin and a potential continuation of growth from the current levels. As part of the SHIB/USD rate forecast, one should not consider an attempt to develop a bullish correction in the value of a digital asset and a test of the resistance area near the level of 0.00003995. From where a rebound is expected again downward and an attempt to continue the fall of the SHIBA INU cryptocurrency with a potential target below the level of 0.00003005.

SHIBA INU Forecast December 8, 2021

An additional signal in favor of reducing SHIB/USD quotes for tomorrow will be a rebound from the resistance line on the relative strength index (RSI). The second signal will be a rebound from the upper border of the descending channel. Cancellation of the growth option for the SHIBA INU cryptocurrency will be a fall and a breakdown of the 0.00004695 area. This will indicate a breakdown of the resistance area and continued growth of SHIB/USD quotes with a target above the level of 0.00004995. Confirmation of the fall in the cryptocurrency will be the breakdown of the support area and the closing of quotations below 0.00003155.

SHIBA INU Forecast December 8, 2021

SHIBA INU Forecast December 8, 2021 suggests an attempt to develop a small correction of the coin and test the resistance area near the level of 0.00003995. Then, the continuation of the fall to the area below the level of 0.00003005. An additional signal in favor of reducing SHIBA INU will be a test of the trend line on the relative strength index (RSI). Cancellation of the fall option will be a strong growth and a breakdown of the 0.00004695 area. This will indicate a continued rise in the cryptocurrency with a target above the level of 0.00004995.

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Shiba Inu Games Joins Forces with Australia’s Biggest Video Game Developer

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The Shiba Inu community is laser-focused on taking over the mobile gaming space next year

Shiba Inu Games, a separate entity within the meme coin’s ecosystem, has partnered with PlaySide Studios, Australia’s largest video game developer.

The purpose of the collaboration is to develop a new game based on the “Shiboshi” non-fungible token collection over the next eight months.

PlaySide CEO Gerry Sakkas says that the tie-up presents an opportunity to explore crypto and NFTs:  

Emerging technologies continue to gather pace, and this is an ideal opportunity for PlaySide to collaborate in this field, expand our skill base and showcase our development abilities.      

The game is expected to be rolled out in early 2023.

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The shares of PlaySide, which are trading on the Australian Securities Exchange, are up roughly 5% on the news, which shows that traders are excited by the new collaboration.

The price of the Shiba Inu token, however, is down 2.52% at press time.

Last month, William Volk, Activision’s former vice president of technology, joined Shiba Inu Games as a consultant to work on what he claims to be “one of the most significant” gaming projects of all time.

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The Shiboshi game will be licensed for a decentralized team of developers working on a yet-to-be-launched Ethereum layer-2 solution called Shibarium.

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