Posted on 10/18/2021 12:41:55 PM PDT by aMorePerfectUnion
While institutional investors have largely ignored SHIB, the meme-token is rising thanks to its grassroots community.
The world knows a thing or two about SHIBArmy, the community behind the self-proclaimed dogecoin killer shiba inu (SHIB). But does it know how powerful SHIBArmy can be?
SHIB, the token that’s clearly not taken seriously by most institutional investors, is still far from dead after another dumping event last week. Blockchain data reveals a tale of how small, individual investors can go against big institutions when they are united.
Since Monday, the SHIB community has been celebrating the survival of last Thursday’s bloody dump across social media platforms: “Shiba Inu rebounds 40% despite major selling by SHIB whales,” a Shiba Inu Telegram group posted on Tuesday under the title “Whales are NOT in control of Shiba.” The message has since been circulating in many Telegram groups.
“We are Shiba The Doge Killer,” the message ended. SHIB by the numbers
The whale dump mentioned in the message, according to blockchain data firm Santiment, took place on Thursday.
That’s when about 31.07 billion SHIB were shed from addresses that held 1 million to 10 million SHIB, wiping out 3.02% of all addresses with SHIB holding within the range. (For clarity’s sake, 1 million to 10 million SHIB is worth $27 to $272 at current prices.)
Santiment also captured a significant uptick in both active deposits and exchange inflow of SHIB at the time.
To be fair, with SHIB’s price still far below $1, the aforementioned message from Tuesday decrying the influence of SHIB whales isn’t fully supported. The top 10 SHIB addresses hold more than 78% of the total SHIB supply and barely moved any SHIB during the time period in question, according to Santiment data.
But nevertheless, the impact of such collective dumping among small SHIB traders is obvious: Last Thursday, the biggest dump so far, SHIB’s price dropped by more than $17% on the day, according to data from TradingView and Binance.
At press time, SHIB was changing hands at $0.00002727, up 34.4% from its latest dump.
[much more with graphs at linky]
Such a terrible investment!! 😂😂😂😂
$1,000 invested in BTC at a million for a hundred..... that would be $600 B today. If there is ever a time machine I know where to go back to. Just have to make sure I have vintage bills to spend when I get back there.
It’s nice to dream!
How about that SHIB!!!!!
Woo hoo!!!!!
Unbelievable rise!!!
Morning Brew ☕️
@MorningBrew
This wallet bought roughly $8,000 of $SHIB last August.
It's now worth $5.7 billion.
From $8,000 to $5.7 billion in roughly 400 days.
We may actually be looking at the greatest individual trade of all time.
Ping to the greatest individual crypto trade of all time - and probably the greatest any kind of individual trade of all time.
https://freerepublic.com/focus/chat/4004718/posts?page=26#26
I put $275 into SHIB on 4 Oct and it was about $1,800 the last I checked this morning. This crypto currency has been a rocket. If it hits $2K I will trade it for Ethereum or Bitcoin. I have net profit in crypto of over 200K with an investment of about $60K. Nice hobby mining crypto!
Wonder if this is why my dogecoin is way up today, following along?
A buddy of mine told me about SHIB 3.5 weeks ago, and he is up around 300%. It is insane!
I would love to see Cardano move right now.
They are on the right path, but it is moving slow.
Outstanding! Keep it up!
Are you holding anything else besides Bitcoin and Ethereum?
Saw that on Reddit...hopefully that person is aware of their new fortune, even despite the dip last night.
… made me wonder if he lost the key to his crypto wallet? 😳
Wouldn’t that be horrible...there is one guy on Reddit that lost his wallet recovery phrase and is sitting on 2.5 billion SHIB. He’s offering 1 billion SHIB to anyone that can get him access. Poor guy.
Right now the goof balls panic selling at 62 had me shaking my head. They’ll be buying back in at a higher price.
I’m HODL and enjoying it.
Between Shiba and Trump stock, it’s been a blast! 😁
I panicked a month ago and converted all my SHIB to Bitcoin thinking I would hold it there and buy back as SHIB dropped lower. I didn’t time it right ended up losing almost a couple million SHIB when I rebought. I learned my lesson...paper hands lose money.
I have a small amount of Shiba coins. Hoping over time it’ll grow into a fair amount of money.
Yes, I have a Kracken Account that I have never used, and Coinbase which I use and pay $14 monthly so that I can have access to tax documents. I mine Etherum with 30 video cards. I have “free” electric in an apartment for two 16 card rigs so my profit margin is decent with Eth at $4K + these days. I have 3 Bitcoin, a dozen Etherum and about 20 different crypto currencies in my Coinbase Account. I also have the new Coinbase Crypto Currency Visa Card that uses US Dollar Coin that pays interest if you keep some in the account - this can be used to purchase items in crypto currency and has a limit of $2,500 at present.
Additionally, I ordered 10 Bobcat Miners for Helium. I intend to put one in Arlington VA, one in Maryland, and hopefully spread 3-4 around Fayetteville NC. I believe that the Bobcat Miners will earn about $26 a day each making the $5K + purchase worthwhile over a a few months. If they earn less then it may take four months recoup the 5K investment. I ordered them 30 days ago and wait time is 8 weeks to 24 weeks for delivery from China.
I would recommend people getting at lease one Bobcat miner for about $533 each with shipping. It will pay for itself and provide 5G coverage network. https://www.bobcatminer.com/
India did this because the owner donated 25% of his holdings to the Indian Covid Relief effort, and he donated all but $257 of the coin’s holdings to charities.
I will bet now he regrets his donations which were only something like 80K total at the time:)
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