Shiba Inu Coin: A "Whale" of a Difference Over Other Cryptos

If you've been holding Shiba Inu coin in your crypto wallet, you've got reason to be excited. In just a year, the coin has increased in value by exponential numbers, bringing the total value of wallets up by hundreds, thousands, millions or even billions of dollars.

Case in point: one unknown investor made small purchases of SHIB over the past year. The 44 separate purchases resulted in a total cost of $8,000 to the investor. At the end of October, the anonymous "whale" SHIB investor held roughly $6.04 billion dollars in SHIB due to the rapid increase in the crypto's value.

SHIB's Future Can Be Impacted by One Person

And that's one of the big differences between SHIB and other popular cryptocurrencies, such as Dogecoin. One person holds such an enormous amount of the coin — around 13% of the total available — and if this "whale" decides to divest those funds at a rapid rate, the market may not have enough buoyancy to absorb the activity.

Investors are definitely worried. The SHIB whale recently moved some of their coins to other wallets, which in some cases can signify a preparation to sell. That would have drastic results for SHIB's value, potentially driving it down by more than 99%.

Because of this, some people are selling SHIB proactively, causing a pause in value growth and even a slight dip.

How SHIB Is Like Other Popular Cryptos

Whale woes aside, SHIB has a lot in common with some other recent cryptos that saw sudden runs to higher prices in the past year. One of those commonalities is the interest of Elon Musk, who has tweeted some cryptic memes related to SHIB.

But as with some of those other cryptos, SHIB's rise is likely to set up a pretty spectacular crash. For those that want to maximize profits on SHIB, it probably comes down to selling at the right time.