Urgent: A currency that rose 150000000% fell to a new zero.. despite the movement of whales By Investing.com

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Investing.com – Overnight the cryptocurrency that has filled the hype and hype about being the Coin Killer of billionaire Elon Musk fell, and despite the catalysts and whale moves surrounding the coin, it recently failed after adding a new zero to its value.

The Shiba Inu currency was not spared a wave of violent declines that affected all major in the past hours, during the catastrophic data on inflation in the United States, which pushed traders towards safe havens and the migration of high-risk assets such as stocks and digital currencies.

whale activity

Data analytics platform and stat revealed that Shiba Inu Active Whale addresses rose by 44% with the increase in use of the popular Shiba Inu meme.

According to Whale Stat data, Shiba Inu whales have been the most active in the past 24 hours, and Whale Stats analysis of the top 100 Shiba Inu holders reflects a 44.44% rise in active addresses as crypto whales interacted with billions of Shiba tokens.

Shiba acquisitions are on the rise among whales, with Whale Stats indicating that the popular meme is among the most used smart contracts among the top 2,000 whales in the past 24 hours.

According to Walstat data, the largest 5,000 ETH whales now own a chip worth $603,009,840.

More adoption

The data analysis platform said that the Shiba Inu token gained more traders during June with the total number of Shiba Token holders currently amounting to 1.177 million investors.

According to the available data, the Shiba Inu token has fallen in line with the recent declines in the cryptocurrency market following the disastrous inflation data.

positive news

According to SHIBQueenie, the official supervisor of SHIB Discord and a member of Growth Breed, more than 2,000 Welly NFTs have been minted to date.

Highlighting the purpose of Welly NFTs, Chitoshi Kusama, lead developer of Shiba Inu, states that NFTs were created to serve as organic tools that act as smart contracts for specific Welly sites.

Furthermore the goal is to reward DOG members or Welly NFT holders every quarter and make decisions via SHIB BONE (DOGGY) DAO on monthly offerings or as needed.

The Decentralized Regulatory Group, or DOG, operates as a private entity within the Welly site(s), which operates through a pool of traders with optional DOG membership through the Welly NFT contract, while the DOG structure is still under development.

Sheba now

Despite the movement of whales that pushed them to the fore again, coinciding with the rise in the number of holders of the famous meme symbol Shiba Inu, the dog currency fell again to add a new zero to its value.

And within the past 24 hours, the Shiba Inu currency fell strongly on the impact of the collapse of digital currencies, led by the currency giving up, during trading on Sunday, nearly 17% of its value.

The Sheba fell from a top of 0.00001008 to a low of $0.000008418, a decline of 17%, while the Sheba is trading near its lowest level since March 2021.

price evolution

Sheba reached its peak in November 2021 when it jumped to levels of $0.000085 to rise by more than 150,000,000% from its lowest level during the year in February 2021.

Sheba’s market value fell from $46 billion at its peak at the end of 2021 to less than $5 billion during today’s trading, while declining in the range of 22% within a week.

Within thirty days, Sheba fell 40%, while it decreased 70% within sixty days, and by 75% since the beginning of the year, and it is ranked 17th among digital currencies in terms of market value.

The article does not express a recommendation or nomination, but rather a mere monitoring of market fluctuations, as trading in digital currencies involves high risks, including the risk of losing some or all of the investment amount, knowing that it is not completely subject to financial authorities and markets.

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