Shiba Inu Coin inches back up after whale moved 40 trillion tokens, Ethereum remains stable as Bitcoin weakens ↺
Another turbulent week on the crypto market is slowly coming to an end. On Monday, crypto enthusiasts woke up to the unfortunate news that the sketchy Squid Game cryptocurrency lost practically all of its value after its deceitful creators figuratively pulled the rug and sold all their tokens. Besides this latest crypto scam, there have been other exciting developments on the crypto market, which after a few record breaking weeks seemed to settle down a bit.
The Shiba Inu Coin for example initially posted big losses after a whale, a nickname for a person with a significant stake in one cryptocurrency, reportedly decided to move 40 trillion of his or her Shiba Inu tokens between different wallets. The cryptocurrency based on the Japanese dog breed with the same name consequently lost 15% of its value on Thursday alone. But the Shiba Inu Coin has already recovered from these losses and was able to jump back up by 18% in the past 24 hours. Shiba Inu Coin is currently priced at US$.000062 per token.
As we previously reported, the second biggest cryptocurrency in the world Ethereum managed to set a new all-time high on Wednesday, but investors have since turned more cautious. The price of Ethereum remained mostly flat, one ether is currently priced at US$4,500, which is 3.5% less than the record high of US$4,655. The Bitcoin on the other hand had an even weaker five days after a promising start to the week. One bitcoin is currently worth around US$61,200, down 9 percent from its all-time high of US$66,930 that was reached about two weeks ago.
Disclaimer: This article is for informational purposes only and does not contain any kind of investment advice.