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? 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 could possibly be the reason why the price has recovered and is somewhat rising, but mind you that investors have to be really careful when a single/few big individual pumps the price of coin on the network, it could be risky cause some of this coins are pump and dump coins and when a whale pumps the price of coin and makes profits, if they pull out/withdraw their funds, it could spontaneously cause a dump in the price, leaving individuals who bought as a result of the pump with losses to bear.
Having said that, investors should ensure that they do not just invest in a project cause of it just pumped but because they have done their research and believe in the project to be sustainable for the long period.