Shiba Inu’s large investors seem to be scooping up the dip as the cryptocurrency market selloff accelerates. According to WhaleStats, an Ethereum whale has just bought 52,797,208,383 Shiba Inu tokens or $1,012,122 worth. The whale ranked 27 on WhaleStats bought the SHIB tokens about 5 hours ago as SHIB price plunged to lows of $0.000017.
Despite the recent drop in prices, the SHIB holder count has grown to reach new record highs of 1,153,214 as reported by WhaleStats. The recent increment suggests a growing community, a healthy sign. Although the growth in holders might not necessarily impact the price in the near term, it may signify interest in a token over time.
The cryptocurrency market succumbed to further selling pressure as Bitcoin dipped to lows of $34,014. Ethereum likewise fell to lows of $2,301 while the majority of altcoins recorded significant losses between 15% and 23%. Solana (SOL, -20.59%), Avalanche (AVAX, -17.60%), FTX token (FTT, -19.08%) and other large-cap tokens are significantly down in the last 24 hours.
Shiba Inu’s price is trading down 19.60% in the last 24 hours at a present price of $0.0000195, according to CoinMarketCap data.
Ripple’s Counsel Says Lawsuit Has Reached “Do As I Say, Not As I Do” Stage
Ripple’s counsel, Stuart Alderoty says ”We’ve reached the “do as I say, not as I do” stage of this lawsuit with this latest from the SEC. Attorney James K. Filan of Filan LLC had posted an update on the Ripple-SEC lawsuit, where SEC filed a motion requesting for an extension of the date for its submission of documents until Feb. 17.
”SEC files motion requesting until February 17, 2022, to file a motion for partial reconsideration of the DPP Ruling & asks to file 20-page brief & to submit more documents for in camera review in support of the motion to reconsider”.
Stuart Alderoty while referencing an SEC publication says ”If you’re curious to what I’m referring to: “[F]irms should not use lengthy privilege reviews to delay responding to routine document requests.”
In a Jan. 13 ruling, SEC was asked to turn over the documents including the draft of former Director Hinman’s 2018 speech. The SEC had asserted that these documents were protected by the deliberative process privilege (DPP).
According to Attorney Jeremy Hogan,
”The SEC won’t win this motion mainly because the evidence it wants to submit is not “new”. And IMO the purpose is not to hide the emails from the Judge (that cat is out of the bag). That leaves 3 possibilities: 1. Delay 2. Make a record for appeal, or 3. Delay”
He further says,
”The delay is obvious. This is no less than the 4th request by the SEC for an extension of time in this case. These motions solidify that the SEC will absolutely pull the plug on this litigation if it believes it might lose a major issue and create case precedent that inhibits its ability to expand its control”
XRP, the native asset of the Ripple blockchain trades at $0.59, down 10.56% in the last 24 hours according to CoinMarketcap data.
