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 ?
The whale is also taking a very huge risk. Even though people noticed he bought it. How sure you are that the btc market wouldn't crash the alts, cause once btc crashes it. Even though he had a good port of shib, it will be affected as well. Its not like shib is one of the biggest coin out there especially its only a meme coin. Institution are probably thinking twice to follow that kind of whale suicide mission.
For me, this is some kind of attracting more people to invest in SHIB because of a trap that will happen later on or this is the start that SHIB will have its own season and end up in a huge price. However, this is not a guarantee that whatever a big whale started, it will soon to breakout. Not in the case of meme coins because aside from they have no use case, they are mostly affected when a big dump hits the market. So for me, what a big whale did was very risky as it may cause a massive loss in the end.