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.