$2 million worth of SHIBA INU bought

[ipanks]

this altcoin should win the nobel prize for being the most manipulated altcoin in history I'm sure it would win the nobel prize in that category if such a category existed. why do people buy this altcoin so much even knowing the manipulation? I once saw someone say that the price would be 1$, man I was shocked because the person posted a video on the pornographic channel, it was a youtube video, but they paid for advertising on the pornographic site

All promotions carried out by altcoins are solely to develop the coin in the future, but never get caught up in conditions that will affect future risks, altcoin categories that have stability and tend to grow, usually have development targets, growing teams and communities, II don't think all altcoins can do that, considering that in crypto today too many memecoins have been launched, which makes altcoins even more competitive.

Only some altcoins have a chance to do that and can increase so high. But people like to follow the hype, especially if the price can soar in a short time. And that is why people still hunt for that altcoin because they know that many altcoins can do that, especially for meme coins, as the hype coins are still there. So they do not want to miss the chance to involve in the meme coins. But I do not know with Shiba for sure as this meme coin is like Dogecoin that needs to wait for a while to increase higher.

[magneto]

Musk's announcement and this.

I honestly don't know what the deal is with SHIB anymore - it does not have the community appeal of DOGE and it has no use cases and a huge premine given to Vitalik that he can dump at any time.

You'd have to be a special kind of stupid to speculate on this stuff. Avoid at all costs.

[llecrf]

$2 million usd to buy memecoin is a confusing choice in my opinion but all investors have the option of pumping up the price then they will make a quick trade to make a profit.
actually there are still many coins that have good fundamentals, but some investors can't choose that coin because there are too many coins in the crypto market and they will choose coins only with trending topics, that's what I think.

[WalkerIVIV]

As per the latest update an Ethereum whale has purchased SHIB worth over $2 million, is that why we have seen recovery in the price over last 24 hours?

A crypto coin with multi billions daily trade volume will not be affected with 2 millions USD buy orders. This may be different when it was around 100 millions or more buy orders in the market. The recovery is happening as per the recovery that happened with bitcoin as well. 2 millions USD was very small amounts of money to be used to pump multi billions token in the market like shiba inu.

I am wondering whether this will push more users to buy SHIB as there are two reasons why users will buy SHIB, one just because it's recovering and second is the assumption that whenever whales invest into any crypto it would pump hard. Are we being bull trapped again ?

It will not push users to buy shiba. Massive buy will be happening when there are very big whales buying or earting all of sell order at once. This can be called as an organic pump by the whales.
The whales will always be speculating this token. I can't deny that shiba is very similar like doge coin to be used as pump and dump token. Remember that this is starting from a garbage token.

[Ngewex Yuk]

Shiba tokens are fantastic, never make people hesitate to buy and invest, large transactions make us believe that there are millionaires behind Shiba, of course this will make the team optimistic to be able to develop Shiba even better.

[liqidoxgen]

I'm not a fan of meme coin so I don't know if it's worth it or not. And if it's only based on whales buying large quantities, it's not a reason to invest in coins, which we don't really believe will be successful. for me popular person or rich people not the reason to doing the same thing as they do.

A very correct observation. If any eccentric millionaire can easily part with several million dollars by buying an empty meme coin Shiba, this does not mean that other sensible investors, in this example, will be ready to lose their, even 100 dollar investments.

[el kaka22]

I am 50% sure that there is a way to launder money via Shiba and that is what the rich people are doing and that is why there is a hype around it. There is no logical argument over why Shiba should be even considered a decent investment for any sane person. Don't get me wrong, I am not one of those people who do not understand crypto, I have been in this world for 8+ years, getting closer to 9 years in 2022 march, so I have been in crypto space a long time.

I even get NFT, I get metaverse, I get everything but will never understand the hype around 2 things; 1) I never understood it for XRP because it is HIGHLY centralized but then everything became more centralized anyway, 2) Shit memecoins. I mean if it had any value at all or any use case then I would understand it but there is literally nothing that can be done with it so it is totally weird for them to have some value.

[manok jepang]

Shiba tokens are fantastic, never make people hesitate to buy and invest, large transactions make us believe that there are millionaires behind Shiba, of course this will make the team optimistic to be able to develop Shiba even better.

If based on whales who buy SHIB in large quantities, I don't think that's a reason to invest with this memecoin, I think it's very easy for people who have a lot of money to manipulate the growth of meme coin, so be careful mate,,!!!! Personally I really doubt SHIB can develop further, that's why I really avoid coin memes because the risk is very high, you should consider investing with SHIB because the hype has  run out actuallyof this coin.

[the ghabbar]

this altcoin should win the nobel prize for being the most manipulated altcoin in history I'm sure it would win the nobel prize in that category if such a category existed. why do people buy this altcoin so much even knowing the manipulation? I once saw someone say that the price would be 1$, man I was shocked because the person posted a video on the pornographic channel, it was a youtube video, but they paid for advertising on the pornographic site

All promotions carried out by altcoins are solely to develop the coin in the future, but never get caught up in conditions that will affect future risks, altcoin categories that have stability and tend to grow, usually have development targets, growing teams and communities, II don't think all altcoins can do that, considering that in crypto today too many memecoins have been launched, which makes altcoins even more competitive.

Only some altcoins have a chance to do that and can increase so high. But people like to follow the hype, especially if the price can soar in a short time. And that is why people still hunt for that altcoin because they know that many altcoins can do that, especially for meme coins, as the hype coins are still there. So they do not want to miss the chance to involve in the meme coins. But I do not know with Shiba for sure as this meme coin is like Dogecoin that needs to wait for a while to increase higher.

Many people have the courage to choose popular altcoins, compared to memecoins like Shiba Inu, altcoins have a good level of stability, even though the selling and buying prices are not that high, in contrast to memecoins, developers or collaborations with smart contracts may end up halfway, which causes us to lose and will lose the memecoin, to avoid such things, so many people prefer altcoins.