Tron (TRX) founder Justin Sun, who has recently made a name for himself with his Ethereum (ETH) and altcoin moves, made a remarkable move on the meme coin front. According to the information shared by PeckShieldAlert, 4 addresses stated to belong to Justin Sun transferred 15 billion SHIB worth 610.5 thousand dollars to the Poloniex exchange. This development caused a short-term decline in the SHIB price. However, despite the sale of Justin Sun, whale interest in SHIB remains. Here are the details…
Is Justin Sun selling SHIB?
cryptokoin.com As we reported, Tron (TRX) founder Justin Sun, who has recently made a name for himself with his Ethereum (ETH) and altcoin moves, made a remarkable move on the Shiba Inu (SHIB) front. According to the information shared by PeckShieldAlert, 4 addresses stated to belong to Justin Sun transferred 15 billion SHIB worth 610.5 thousand dollars to the Poloniex exchange. This development caused a short-term decline in the SHIB price.
One whale will make 628x profit
However, despite the sale of Justin Sun, whale interest in SHIB remains. According to data shared by Lookonchain on March 5, an address that bought and held SHIB for only 1.51 ETH (approximately 2,521 USD) in 2021 deposited all its SHIBs to Coinbase. The profit from this investment was calculated as 1.58 million US dollars, which means a profit of 628 times.
Wintermute and another whale transferred meme coins to the exchanges
Additionally, according to information shared by @ai_9684xtpa on March 5, Wintermute transferred $6.18 million worth of SHIB to CEX in the last 15 minutes. This development shows Wintermute’s desire to profit as SHIB rises. However, we do not know whether the sale is actually coming or not. There was also a SHIB transfer worth $10.35 million from Robinhood in the last hour. It is thought that this transfer was made by Wintermute.
Despite the whale activity and Justin Sun’s selling, SHIB is up 50% in the last 24 hours. Because it is currently trading at $0.00004029. This rise shows that investor interest in SHIB continues. Analysts predict that SHIB may rise further in the coming period. However, investors need to make their investments carefully, taking into account whale movements and market fluctuations.
Those considering investing in SHIB should consider the following factors:
- Whale movements: Whales significantly affect the SHIB price.
- Market fluctuations: The cryptocurrency market is quite volatile and the SHIB price is also affected by these fluctuations.
- General investor interest: Investor interest affects the SHIB price either up or down.
- SHIB’s usage areas: Increasing usage areas of SHIB contributes to the increase in its price.
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