Mysterious Whale Sells Shiba Inu!

Shiba Inu: The second largest meme coin, Shiba Inu (SHIB), has gained close to 15 percent over the past day. However, it lost value on a 7-day basis. Here is one possible reason behind the Shiba Inu (SHIB) price drop of more than 26 percent in the last 7 days.

Mysterious Shiba Inu whale goes on sale

The Shiba Inu (SHIB) may have slumped as the mysterious SHIB whale flooded the market with 9.47 trillion SHIB worth $100 million. AmkNews.com As we also reported, SHIB has lost more than 26 percent of its value in the last 7 days. Shiba Inu (SHIB), along with other major cryptocurrencies, has experienced heavy selling pressure since Monday. Bitcoin (BTC), the world’s largest cryptocurrency by market cap; responsible for this widespread selling in the global crypto market.

BTC has lost 30 percent of its value in the last 7 days. As such, it has potentially sent disastrous ripple effects to the wider cryptocurrency market. However, when it comes to SHIB, the mysterious whale; It also played an important role in driving down the value of the most popular dog-themed cryptocurrency.

Whale displaces $100 million worth of SHIB

Etherscan.io shows that the SHIB whale transferred $100,046,191 ($100 million) in three separate transactions on June 9-10. Transfers were made to 2 anonymous wallets. This equates to 9.47 trillion SHIB in total. Thus, it turns out that the whale was responsible for the SHIB decline. The operations of the whale are as follows:

  • June 9, 2022 (Thursday): The mysterious SHIB whale has made two of its massive sale transactions. He transferred the popular dog-themed cryptocurrency worth $99.67 million to one of the unknown wallets.
  • June 10, 2022 (Friday): Whale completed its third sale. He just sold $373,313 worth of Shiba Inu to another random unknown wallet.
Shiba Inu Gospel from Famous Platform: SHIB Can Enter Cart!

Such an important sale of mysterious whales; It put significant pressure on the world’s second-largest dog-themed cryptocurrency by market cap. SHIB is changing hands at $0.00000831, up 6.2 percent in the past 24 hours. However, the loss in the last 7 days is over 20 percent. Cryptocurrency ranked 15th with a market capitalization of $4.9 billion; It has lost 31 percent in value in the last 30 days. The Shiba Inu last recorded an all-time high on October 28, 2021. The record level was $0.00008616. Given current prices, it seems to have dropped as much as 90 percent since then.

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Larry Brown

I graduated from Yale University, Department of Television. I have been a professional news writer for 3 years. I am continuing my career here by establishing amknews.com site 3 months ago.