https://wccftech.com/it-is-official-now-coinbase-finally-allows-new-york-residents-to-trade-shiba-inu-shib-coin/

Shiba Inu (SHIB), a Floki-themed meme coin that is one of the best-performing assets of 2021, was written off by detractors a few hours back amid broad-based selling pressure. Well, the tables have now turned, with the coin posting a gain of over 21 percent in the past 24 hours.

As we had noted in a dedicated post, two factors were largely responsible for that bearish paradigm. First, Shiba Inu proponents were worried about an incoming liquidation wave as a whale investor moved over 40 trillion SHIB coins to four different wallets. Nonetheless, these fears appeared overblown, given that the Shiba Inu project currently does not have enough liquidity to support liquidation of this magnitude. Consequently, if the whale investor were to begin liquidating his mammoth SHIB stake, the entire holding would very rapidly become worthless, thereby precluding the rationale behind this possible move. Moreover, whale investors often divide their holdings between a number of wallets for risk-minimization purposes.