The second largest meme cryptocurrency Shiba Inu (SHIB), Today, the crypto community has blamed TRON’s founder Justin Sun for the coin’s decline.
The widespread panic selling in the global cryptocurrency market continued rapidly after the total crypto market cap fell by as much as 16.06 percent in the last day to $1.19 trillion. Shiba Inu price also fell more than 31 percent today following the rest of the market, reaching a 24-hour low of $0.00009145.
All major cryptocurrencies in the world, including the Shiba Inu, experienced one of the biggest panic sales in history. As sales intensified, the Shiba Inu token has lost more than 31.20 percent of its value in the past 24 hours. If at the time of writing SHIB price It has seen a rebound, the meme coin hitting as high as $0.00001185 and the last 24-hour trading volume is $1,850,119,220 at the time of writing.
According to Etherscan.io data, this sharp drop in SHIB price saw a mysterious BNB whale sell a massive $5 trillion SHIB worth $52.9 million ($52.90 million) in two major transactions in the past 24 hours.
The mysterious SHIB whale still has 3 trillion SHIBs worth $31.440,000 ($31.44 million) in his wallet.
After this huge sale from the whale, speculation began to circulate in the crypto community that this mysterious wallet belongs to Justin Sun, the founder of TRON.
Even Gossip SHIB, a former SHIB Growth Breed Member, noticed this mysterious BNB wallet address and shared screenshots of the transactions in a tweet where he tagged Justin Sun, directly asking him to reveal the true story.
“Is Justin Sun the devil behind today’s SHIB drop? Conspiracy or truth?”
@justinsuntron is the evil behind #SHIB bottom today?
Conspiracy or true? pic.twitter.com/UiRp85v9q0
— ♛ Gossip SHIB ♛ (@GossipShib) May 12, 2022
Sun, however, has not yet responded to the SHIB supporter’s allegations.
You can check the price movements here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, KoinFinans and the author of this content cannot be held responsible for personal investment decisions.