Binance, the largest cryptocurrency exchange, is rumored to have purchased the ‘dip’ by purchasing 75 trillion Shiba Inu coins.
After spending $500 million, Binance reportedly added 75 trillion Shiba Inu coins to its wallet. When it was purchased, the Binance wallet was valued at $5 trillion. It eventually soared to an all-time high of 80 trillion dollars in a single day. Although Binance has not confirmed this.
Despite the news, the price of the SHIB has stayed at an all-time low for the past two months. Shiba fans and connoisseurs on Twitter were left wondering if the deal had happened.
Binance has also not acknowledged whether they purchased 75 trillion Shiba Inu tokens or transferred them to their wallet via exchanges.
The massive purchase has given the Shiba Inu community a lot of fire and energy, giving investors faith that the coin is doing better and would reward them handsomely in the long run. Few investors are skeptical, despite the fact that the occurrence had no meaningful influence on the price.
The market is rising, but the Shiba Inu Price is staying the same. It is currently trading at $0.0000062, with a gain of 1.21 percent over the past 24 hours. In recent days, however, it has not grown as much as the rest of the altcoins. Despite the excitement about Shibaswap, the price has remained quite stable. The coin has a sizable community behind it, and only time will tell which route it will take.