Shiba Inu (SHIB), a popular meme coin, registered a massive slump in price today. The plunge has been attributed to the major whale selloffs noted lately. Moreover, the Shiba Inu price attained a low of $0.00003036 during the day, plummeting over 6% from the day’s peak.
Shiba Inu Whale Offloads Over 1.4 Trillion SHIB
According to a post on X by Whale Alert, a blockchain tracking platform, a Shiba Inu whale dumped over 1.4 trillion SHIB tokens today. To be precise, $1.407 trillion SHIB tokens were moved from an unknown wallet to KuCoin, a renowned global crypto exchange. The transaction was worth $43.50 million.
While there is no exact proof of a sell transaction, it is estimated that this SHIB reserve was transferred to KuCoin with intention of selloff. Moreover, the Shiba Inu community was startled to witness such a huge dump. In addition, they expressed concerns about a further slump in the Shiba Inu price.
Furthermore, such a selloff triggered speculations since Shiba Inu whales h
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