Shiba Inu Whales Unload Billions Amid SHIB Price Retreat

Christian Encila

2 years ago

3 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Created by industry experts and meticulously reviewed

The highest standards in reporting and publishing

How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

The cryptocurrency market has been highly volatile in recent weeks, with Shiba Inu making headlines as a popular meme-inspired cryptocurrency.

Over the last 24 hours, the price of the popular meme coin witnessed a slight uptick of approximately 5%, which drew the attention of investors and traders.

However, as of the time of writing, the cryptocurrency has seen a decline of 2.32% in, resulting in mixed sentiments among its holders.

The minor surge in the price of Shiba Inu was enough to stimulate selling activities among crypto whales – large investors with significant holdings of digital assets.

Such market players are known to have a significant impact on the cryptocurrency market, and their behavior is often closely monitored by other investors.

Source: Etherscan

As per the information shared by Etherscan, a few prominent wallets have transferred almost 6 billion SHIB to two leading cryptocurrency exchanges through multiple transactions.

Whale Transactions On Major Crypto Exchanges

A considerable amount of Shiba Inu (SHIB) was recently transferred to two of the largest cryptocurrency exchanges, Uniswap and Binance. The transfers were made in multiple transactions, with the largest of them carrying 2,208,284,207 and 1,472,189,471 SHIB, respectively.

The goal of these transfers was likely to sell SHIB, triggered by earlier price surge. The total value of these transfers is significant, as the recent overnight price surge has increased the value of 6 billion SHIB to $64,440.

How will these significant transactions impact the overall market trends of SHIB, and what does it indicate about the sentiments of these influential investors?

Meanwhile, one whale took an opposite approach and added several billion SHIB to their meme coin portfolio.

This particular whale made four purchases of slightly under 4,000,000,000 SHIB each over the past two hours and now holds a whopping 15,996,999,997 SHIB.

It remains to be seen how these whale transactions will impact the market trends of SHIB in the coming days.

Outlook On Shiba Inu

The recent significant transactions involving SHIB on major cryptocurrency exchanges, including Uniswap and Binance, have the potential to impact the overall market trends of the meme-inspired cryptocurrency.

The transfer of nearly 6 billion SHIB to these exchanges in multiple transactions, followed by the purchase of several billion tokens by a whale investor, indicates that there is ongoing interest in SHIB among influential investors.

SHIB market cap at $5.9 billion on the daily chart at TradingView.com

These transactions also suggest that the whale investors are closely monitoring the market trends and are likely making calculated moves based on their expectations.

The goal of the transfers to Uniswap and Binance was likely to sell SHIB, given the recent price surge. However, the purchase of several billion tokens by a whale investor signals a bullish sentiment toward SHIB.

Nevertheless, it is crucial to keep an eye on the activities of these influential investors to gauge the overall sentiment and direction of SHIB in the market.

(This article is for educational and informational purposes only and should not be construed as investment advice)

-Featured image from NPR

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.