September 27, 2022

Whales massively sold out 1.4 trillion SHIB in one night


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WhaleStats, an online cryptocurrency tracker that tracks transactions on major blockchains including Ethereum, BNB Chain, and Polygon, has spotted a massive sale of Shiba Inu tokens. Large network holders got rid of $1.4 trillion of tokens, which caused the crypto asset to fall to the 5th place in terms of the amount of the largest savings among the serious whales of the ETH network.

Experts noted that the 100 largest holders of virtual assets in the Ethereum network owned SHIB for a total of $159.67 million about a day ago. However, as of 14:30 Moscow time, this figure had dropped to $140.26 million. The difference in the number of tokens held on their balances was 1.44 trillion Shiba Inu.

Analysts noted that most likely, investors have fixed short-term profits after Shiba Inu rose in value by several percent over the past days. Now SHIB accounted for only 3.05% of the total assets in the portfolios of the largest whales.

Social media users recalled that a week ago, PAC Protocol CEO David Gohstein predicted the Shiba Inu to rise to $0.01. However, not many agree with him.

Users emphasized that the price of SHIB was about $0.000013, while the total supply of assets was at around $7.2 billion. An increase in value tenfold will be possible only when the capitalization of the cryptocurrency market overcomes $10 trillion or more.

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