The price of the Shiba Inu token achieved its “FTX Low” after dropping steadily for over four weeks. We’re referring to the price range about $0.0000082 per SHIB, which was where the altcoin price was when one of the biggest cryptocurrency exchanges, FTX, declared its bankruptcy in November of last year.
The price of SHIB managed to increase by 94% over the course of these six months before plunging once more to its all-time lows. Many investors are now unsure if it is still wise to invest in the token due to this drop.
A little bit of positivity
Nevertheless, despite the present market instability, there are some encouraging signals. According to IntoTheBlock, significant holders are actively purchasing SHIBs despite the prices seeing a sharp decrease.
Thus, based on the statistics, there has been an increase in the net inflow of big holdings of 1.35 trillion SHIB since Sunday. This shows the token is now being accumulated by investors who own more than 0.1% of the Shiba Inu offering.
Since the activities of this set of investors can be readily explained by the negligible risks associated with purchasing in this region, it is evident that this is not a panacea. However, the presence of a buyer is unquestionably encouraging.
