On-chain data shows that the richest Ethereum whales have sold large volumes of Shiba Inu in the past two days. A few hours ago today, the largest whales on the Ethereum blockchain sold around 3 trillion Shiba Inu in total, according to updated data shared by data platform WhaleStats.
$37.3 million SHIB sale
The whale tracking company has shown that over the past few hours, whales’ SHIB bags have shrunk significantly, down to just $119,787,272 from the previous $157 million volume. Thus, a total of 2,836,501,901,140 Shiba Inu sales were made.
As a result of this development, SHIB has dropped to fifth place on the top ten list of whales crypto assets. meme coinwhich currently accounts for 1.92% of these investors’ portfolio, versus 5.29% earlier today.
However, whales are expected to return to SHIB positions again as the top 100 ETH whales routinely purchase from Shiba Inu after each sale. Whales are likely to take an entry position on the next dip and benefit from the dips.
Shiba Inu developments
The Shiba Inu has several developments this year that could raise its price sustainably. The meme coin has entered multiple segments such as food, fashion, gaming, and the metaverse. Here are the upcoming Shiba Inu updates:
- Shibarium layer-2 network
- Shiba Inu Eternity game
- ShibaSwap 2.0
- ShibaNet
- treat token
- SHI stablecoin
You can follow the current price action 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.