Shiba Inu News: Shiba Inu (SHIB), the second largest meme cryptocurrency, is under tremendous selling pressure due to increased volatility in the crypto market. However, the SHIB price could see a drop as a crypto whale looks for a price increase before a possible dump.

Whale to Dump Shiba Inu Ahead?

According to the Lookonchain report, crypto whale has made some smart money amid the recent Shiba Inu price hike. Meanwhile, these whales are expected to be ready to dump their massive SHIB lead.

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Data shows that whale can earn more than $23 million from SHIB transferred about 17 hours ago. It moved over 207 billion SHIBs. However, after this, the price of Shiba Inu fell by 3%.

Analysts stated that the whale bought about 3.49 trillion Shiba Inu for just 2.37 Ethereum (ETH), about a price of $2,233 in 2020. The whale spent 1.83 ETH (about $1,967 at the time) to 2.27 trillion to add Shiba Inu. It later bought 1.22 trillion SHIB, costing it about 0.54 ETH (about $266 at the time).

After this accumulation, the Shiba Inu price peaked in April 2021. However, the whales took the opportunity and began to sell their business. According to records, they transferred a total of 2.94 trillion SHIB tokens.

How much is the whale holding now?

However, the whale still has about 0.55 trillion Shiba Inu coins. If the whale sells its remaining SHIB holdings, it could book a good $18.3 million.

According to calculations that SHIB bought 2.37 Ethereum in 2020, it will somehow bring a profit of more than $23 million.

Ashish believes in decentralization and has a keen interest in the development of Blockchain technology, the cryptocurrency ecosystem and NFTs. He aims to create awareness around the growing crypto industry through his writings and analysis. When he is not writing, he is playing video games, watching a thriller or exercising outside. Reach me [email protected]

The content presented may contain the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or publication is not responsible for your personal financial loss.





This post Shiba Inu price drop ahead? Whale is looking for this

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