According to rumors, Binance, the top cryptocurrency Exchange has bought the ‘dip’ by purchasing 75 trillion Shiba Inu coins.
Binance reportedly added 75 trillion Shiba Inu coins to its wallet after paying a whopping $500 million. Binance wallet was valued at 5 trillion dollars when it was purchased. It later surged to 80 trillion dollars in just one day. Although this is not yet confirmed by Binance.
Binance’s huge trade was initially seen by a ‘whale watcher, who reported it on Shiba Inu’s Reddit group r/SHIBArmy, along with the Binance wallet number.
Despite all of the news, the SHIB price has remained at an all-time low for the past two months. This Left Shiba fans and aficionados on Twitter to wonder if the transaction actually took place.
Furthermore, Binance has not confirmed whether they have bought 75 trillion Shiba Inu tokens or transferred them to their wallet via exchanges.
The large purchase has brought a lot of fuel and excitement to the Shiba Inu community, giving investors hope that the coin is doing better and would reward investors handsomely in the long run. Despite the fact that the incident had no significant impact on the price, few investors are dubious.
The market is rising, while the Shiba Inu Price remains unchanged. It is presently trading at $0.0000062, and while it has gained 1.21% in the last 24 hours. However, it has not risen as much as the rest of the altcoins in recent days. Despite the buzz around Shibaswap, the price has not risen significantly. The Coin has a strong community behind it, and only time will tell in which direction the coin is heading towards.