Not even the ‘whales’ can revive the shiba inu that continues with its 60% correction

The two most popular crypto memes are experiencing an additional dose of suffering to the one lived in the last days in the cryptocurrency market. The short-term recovery of some ‘altcoins’ has bypassed dogecoin (DOGE) and shiba inu (SHIB), which are still on a bearish trajectory. Of the two, SHIB is having a clearly worse time, with declines that have reached 20% in the last week, as part of a 55% correction of the digital currency ‘meme’ since its all-time high in late October.

Not even the movements of some whales have managed to stop the collapse of the competing currency of the DOGE from the price of $ 0.000087 on October 28. On November 23, an anonymous account purchased approximately $ 36.8 million in more than 850,000 million units of shiba inus. On November 17, an investor bought 171 billion tokens for the total value of about 8.3 million dollars. Ten days earlier, an unknown crypto investor acquired 20 trillion units of Shiba Inu for the value of almost 1.15 billion, according to data from ‘RT News’.

Some analysts note that SHIB’s corrective move is normal after its price will skyrocket by more than 1,100% from October 1. And some analysts believe that the massive sales will continue in the coming weeks, according to ‘CoinTelegraph’.

Nonetheless, shiba inu’s ongoing price correction is framed within what appears to be a bullish flag pattern, increasing the chances that the currency will continue its upward movement in the future, reflects the medium.

ELON MUSK HITS WITH BINANCE OVER THE FAILURE OF DOGECOIN

The DOGE is also in the news this Wednesday, after its celebrated advocate, the CEO of Tesla, Elon Musk, has raised to public the problems that Binance users are having with the cryptocurrency inspired by the meme of a dog of the Shiba Inu breed -like SHIB-, because of a technical failure in its blockchain. The cryptomeme is left 4% in the last hours and more than 6% from a week ago.

A Dogecoin network update on November 10 appears to have caused a problem with the withdrawal of capital from the networkBinance said in a statement the next day. A “very small number of users” were affected, they said, explaining that some previously failed DOGE transactions were forwarded after the update, and that they were “kindly requesting those users to return the assets.”

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