Shiba Inu (SHIB), the most talked about cryptocurrency in the crypto money market, has lost more than $ 600 million in minutes today. It is estimated that the reason for the decrease of more than $ 600 million in the cryptocurrency, which experienced a sudden drop in 10 minutes, was the sale of one or more whales.
SHIB Experienced Rapid Depreciation
SHIB, which experienced a rapid decline from $ 11.22 billion to $ 10.61 billion, recovered this decline somewhat, but the traces of this still remain on the charts.
Although the reason for this decline is not known clearly, seeing this after the harsh statements of a famous name turned all the arrows here.
Michael Burry, former fund manager of Scion Capital, recently criticized SHIB’s total supply, emphasizing that it was actually “meaningless”.
Emphasizing that SHIB is a bad investment just like DOGE, Burry reacted with these statements, but the decline of SHIB may be related to this.
It is normal for SHIB, which started to rise with the Coinbase listing on September 16 and achieved a 300% increase in value in a short time, to experience such decreases. Although it is known that every rise is a fall, it is abnormal if the price suddenly crashes.
Although whales triggered the decline of SHIB, which is more than 40% of which is especially attracted by individual investors and according to recent reports, this may not be possible without the panic of the individual investor.