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Shiba Inu Coin inches back up after whale moved 40 trillion tokens, Ethereum remains stable as Bitcoin weakens

On the crypto market, Ethereum appeared to be quite stable, while Bitcoin dropped slightly and the Shiba Inu Coin continued its volatile ride (Image: Thought Catalog)
On the crypto market, Ethereum appeared to be quite stable, while Bitcoin dropped slightly and the Shiba Inu Coin continued its volatile ride (Image: Thought Catalog)
Three cryptocurrencies, three different market trends. Just in time for the weekend, we summarize what has happened on the crypto market over the last five days, with a particular focus on Bitcoin, Ethereum and the Shiba Inu Coin.

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.

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Disclaimer: This article is for informational purposes only and does not contain any kind of investment advice.

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Enrico Frahn
Editor of the original article: Enrico Frahn - Tech Writer - 943 articles published on Notebookcheck since 2021
My fascination for technology goes back a long way to the Pentium II era. Modding, overclocking and treasuring computer hardware has since become an integral part of my life. As a student, I further developed a keen interest in mobile technologies that can make the stressful college life so much easier. After I fell in love with the creation of digital content while working in a marketing position, I now scour the web to bring you the most exciting topics in the world of tech. Outside the office, I’m particularly passionate about motorsports and mountain biking.
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> Notebook / Laptop Reviews and News > News > News Archive > Newsarchive 2021 11 > Shiba Inu Coin inches back up after whale moves 40 trillion tokens, Ethereum remains stable as Bitcoin weakens
Enrico Frahn, 2021-11- 5 (Update: 2021-11- 6)