Bittime - Shiba Inu whale activity has shocked the market again. Transfer of 100 billion SHIB to Coinbase triggers speculation of price correction. Check out the complete analysis here!
The crypto world has been shocked again by the actions of the Shiba Inu (SHIB) whale . Recently, a whale with digital wallet 0x462 caught the attention of analysts after moving 100 billion SHIB tokens, worth about $2.24 million , to crypto exchange Coinbase.
This transaction is part of a pattern of large movements of SHIB funds that occurred over the past week. On-chain data analyst The Data Nerd revealed that the whale previously accumulated SHIB at an average price of $0.00002408 per token. If sold at the current price ( $0.00002324 ), the whale is expected to incur a loss of around $178,000 .
Sumber: X @OnchainDataNerd
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This whale movement sparked concerns regarding the liquidity and price stability of SHIB. Over the past seven days, the value of SHIB has fallen 6.19% . This decline was deeper than the overall crypto market performance which fell 2.60% . In fact, compared to other crypto assets in the Ethereum ecosystem which are up 12.70% on average , SHIB is far behind.
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Dynamics of SHIB Inflow and Outflow on Crypto Exchanges
Whale activity does not stop with that single transaction. Data from Arkham Intelligence shows that there is a large inflow and outflow of SHIB on various crypto exchanges. For example, Binance and Upbit reported a surge in SHIB transfers to their wallets, each with a value of hundreds of billions of tokens . The transfer of 100 billion SHIB to Coinbase was recorded as one of the largest in the last 24 hours . Overall, SHIB flow charts on crypto exchanges show a volatile pattern , with increasing inflows accompanied by persistent outflows .
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Other Big Transactions by SHIB Whales
SHIB whale activity does not only come from wallet 0x462 . On May 10 , another whale wallet moved 705.9 billion SHIB , worth more than $16.5 million , out of crypto exchanges. This indicates a change in asset ownership strategy . Additionally, on May 2 , an anonymous wallet withdrew 1.75 trillion SHIB from the Robinhood exchange. This shows the continuing trend of SHIB accumulation amidst price fluctuations.
This series of transactions and market movements demonstrate the significant influence whale activity has on SHIB's liquidity and price stability . Worth noting, SHIB currently has a market capitalization of around $13.7 billion with a daily trading volume of close to $400 million .
Frequently Asked Questions About Whales
What Is A Whale In Cryptocurrency?
How to Buy Shiba Inu (SHIB) on Bittime
You can buy and sell Shiba Inu (SHIB) in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
Shiba Inu (SHIB) is available on Bittime withthe market pair SHIB/IDR .To be able to buy SHIB IDR at Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn the complete guide on how to buy Shiba Inu (SHIB) on Bittime .
Monitor the price chart movements of Shiba Inu (SHIB) , Bitcoin (BTC) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
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DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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