Whales Are Increasing Their Activity By Accumulating Shiba Inu (SHIB) And Gnox Token (GNOX)

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Despite the current downturn in the market, several big hitters in the crypto world are increasing their holdings. Some believe it may be time to “buy the dip”. While no one knows how long this bear market will last, with whales increasing their holdings of some coins, this could be good news for the industry. These whales can wait for the short-term variance and hold their coins for long-term gains. And so we are still bullish on altcoins, the underlying technology and the potential for future use are huge, regardless of weekly volatility.

So why are whales increasing their stake in SHIB and GNOX?

Shiba Inu (Shib)

Shiba is probably the most famous “meme-coin”. It has experienced stratospheric rise over the past year or two. Some market commentators wonder why, as this coin is built on social media fame rather than real-world use. But still, SHIB has managed to remain relatively stable after some losses, when compared to other coins that are taking a big hit during this bearish period.

And SHIBA recently announced rewards for users who want to burn their coins. Token burns can help limit the supply and therefore drive up future prices. Billions of SHIB tokens have already been burned. Will the burning of this token and the current coin price consolidation bring even more gains for the Shiba Inu?

Gnox Token (GNOX)

Another token that has seen increased demand in recent weeks is GNOX. Gnox sits as the governance and staking token for the wider Gnox ecosystem, and it has a lot of people talking in the crypto world.

Gnox also plans to burn billions of coins in three pre-sale phases. The pre-sale was recently extended because the demand is so high. With the price rising by over 52% already, some of those prices with whales involved look great for GNOX in the short and long term in the future.

And Gnox has many reasons to get involved beyond short-term price increases. It is the only crypto project that offers yield farming as a service, which aims to democratize investment opportunities and put them in the hands of both regular and institutional investors. Those investors are often put off by some of the complexities surrounding DeFi investment strategies, but still want to achieve decent passive income returns. With Gnox, they can.

Whales are picking up both SHIB and GNOX for good reason. Can they be a great addition to your portfolio too?