One of the largest altcoin whale wallets on the Ethereum network managed to protect most of its funds in the biggest correction of the year, which took place on December 3-4. However, some big addresses have decided to leave the Shiba Inu after losing $400 million in value, according to whale detective WhaleStats data. Here are the details…
SHIB remained out of the interest of individual investors
Even though the whales have sold around $400 million of their current Shiba Inu, according to on-chain news sources, they still hold a large amount of meme tokens in their wallets. After SHIB, stablecoin USDC takes the biggest share. As for SHIB’s performance, most likely after the biggest sale of the year, the bear cycle in the current market has also changed the meme token’s price predictions. SHIB price has been depreciating since its ATH of $0.00008845 on Oct. 28, according to TradingView data. The Shiba is down 62% since its highest-watched valuation. Although the token started new trials for the uptrend, it failed to reach its target due to the lack of purchasing power of individual investors fueling mid-stage rallies.
On the other hand, according to trade and trading volume indicators, individual investors are leaving the Shiba Inu and moving to other cryptocurrencies. WhaleStats data confirms that the purchasing power is in the hands of the whales. Since SHIB’s ATH, whales have continued to add steadily after each major drop. So how does the whale trend change? Let’s end with this question…
Why is the interest of altcoin whales dissipating?
As the bear trend of the crypto market intensified in December, whales tend to switch their wallets to smaller and less volatile altcoin projects. However, SHIB had already proven itself to the market. When it comes to durability, altcoin projects like Doge and Avax lost 20-25% in value, while SHIB was trading with a 15% loss in the process. cryptocoin.com You can take a look at analyst Lavina Daryanani’s analysis of SHIB and DOGE here.
Contact us to be instantly informed about the last minute developments. twitter‘in, Facebookin and InstagramFollow and Telegram and YouTube join our channel!
Disclaimer: The articles and articles on Kriptokoin.com do not constitute investment advice. Cryptokoin.com does not recommend buying or selling any cryptocurrencies or digital assets, nor is Kriptokoin.com an investment advisor. For this reason, Kriptokoin.com and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, asset or service in this article.
Warning: Citing the news content of Kriptokoin.com and quoting by giving a link is subject to the permission of Kriptokoin.com. No content on the site can be copied, reproduced or published on any platform without permission. Legal action will be taken against those who use the code, design, text, graphics and all other content of Kriptokoin.com in violation of intellectual property law and relevant legislation.