The biggest problem for the Shiba Inu is selling whales. Whales are the reason why the Shiba Inu price has been tanking. The current SHIB price was seen last in early October 2021. The bad news is that Shiba Inu might continue plummeting and probably become the next Terra Luna if its whales do not stop selling. That's how bad things are for the SHIB investors. However, it is important to mention that the bear market is not the only reason why Shiba Inu is plunging.
This is because crypto projects like Bitgert (BRISE) have not experienced the kind of plunge that Shiba Inu has. In fact, Bitgert has been skyrocketing for the past 6 months. During the current bear market, Bitgert has maintained a stable price. Bitgert, unlike Shiba Inu, is a real utility project that is growing fast because of the powerful project the team is developing. Bitgert is currently building a blockchain ecosystem. There are already several Bitgert products launched, but the Bitgert BRC20 blockchain has been the major product so far.
The Bitgert team just launched the widely anticipated roadmap V2, which has the DeFi, NFT, and Web products. The Bitgert team also announced a partnership with Centcex to build products for the Bitgert ecosystem. There are a lot more exciting developments coming up with 1000+ Bitgert Startup Studio projects expected to grow Bitgert adoption. The bottom line is that Shiba Inu depends on whales holding to avoid crashing like Terra LUNA. However, Bitgert is expected to maintain a stable price during this bear market. So, Bitgert will be the crypto project to watch.
In the last 24 hours, WhaleStats' Shiba Inu transaction chart of the top 100 holders saw the highest transfer amount (37,372,660) recorded since July 15, with transfer counts numbering 71, which is the highest in more than a month. According to WhaleStats, Shiba Inu was one of the top 10 most purchased assets among the top 2,000 ETH whales just 24 hours ago. The motive behind the massive purchases is still unknown. Whales typically use a period of accumulation and a dip to load up tokens at a discount. This might be one of the reasons for Ethereum whales purchasing Shiba Inu. Additionally, the anticipation of wider adoption and impending launches may play a role. Shiba Inu just revealed its historic partnership with The Third Floor (TTF) for building its SHIB.io Metaverse, so Ethereum whales may see this as the further positive potential to go by.
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