The price of the meme coin dropped after a massive Shiba Inu (SHIB) whale moved $2.3 billion worth of SHIB to four different wallets. Now, investors are getting nervous and the leading crypto analyst is giving critical warnings. Here are the details…
Shiba Inu whale woke up from left!
Dogecoin (DOGE)’s biggest competitor, Shiba Inu (SHIB), fell 11% as a whale sells, which has now turned a $3,400 purchase last August to $1.55 billion. The Shiba Inu whale distributed a total of 10,000,000,000,100,000 SHIB to 4 wallets, each different. Each transaction was worth approximately $586 million and totaled $2.3 billion. Since the whale wallet has been inactive for the past year, social media users thought its owner might have lost the key. But this whale has woken up, and a Twitter analyst Devchart sums it up:
Remember when everyone wondered if the man who turned $8,000 into $5 billion really lost access to his wallet? Turns out he didn’t and started moving some of his Shiba Inu (SHIB).
Jacob Oracle: SHIB drops by 99.99% if sells
With the awakening of the whale wallet, which has been dormant for nearly a year, some fears are beginning to surface that its owner is preparing to sell its tokens. The whale has a sizable percentage of the supply and any sale it makes could result in huge price drops. Speaking to Shiba Inu investors, a financial analyst, Jacob Oracle, says the Shiba price could crash if the whale decides to sell:
If this wallet decides to sell, the Shiba Inu (SHIB) will drop to zero.
The whales had collected 6 trillion SHIBs!
Meanwhile, almost 72% of the circulating SHIB supply from CoinMarketCap data is concentrated in 10 whale wallets. One of these whale wallets still holds over $1.8 million in Shiba. cryptocoin.com As we have reported, 6 trillion Shiba have been transferred from one Ethereum wallet to another in the past weeks. After that, the price of meme coin increased its daily earnings to 150% and its weekly earnings to over 300%. Then, whale alarms are sounding for Shiba, which reached the ATH level with $0.000008845 1 week ago. The Shiba has lost 36% in the last 7 days, 22% today. This is what the Shiba, trading at 11th at the time of writing, looked on the hourly chart:
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