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1.1 Trillion SHIB Sold as ETH Whales Get Rid of the Meme Coin

Cryptocurrency Sep 18, 2022 07:00AM ET
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1.1 Trillion SHIB Sold as ETH Whales Get Rid of the Meme Coin
 
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  • ETH whales sold an eye-watering amount of Shiba Inu over the last 3 days.
  • The SHIB stash that is held by the top ETH whales has shrunk.
  • Despite the meme coin being in the green for today, it is still down more than 8% over the last week.

According to data shared by WhaleStats, ETH whales sold an eye-watering amount of Shiba Inu (SHIB) over the last three days.

According to the information provided by WhaleStats, the largest whales on the Ethereum (ETH) chain got rid of more than 1.1 trillion Shiba Inu tokens. One of the transactions carried almost 61 billion of the meme coin tokens to the crypto exchange, Binance.

In addition to this, WhaleStats also revealed that since September 14 of this year, the SHIB stash that is held by the top ETH whales has shrunk from $152 million to $140 million.

The amount of SHIB evaluated in this sum of USD equals a staggering 1,115,879,828,326 coins.

It seems like the whales are dumping the meme coin in an attempt to get rid of it as the price of SHIB has been underperforming recently.

SHIB/USDT daily chart (Source: CoinMarketCap)

According to the market tracking website, CoinMarketCap, SHIB is currently trading at $0.0000119 after a 1.35% increase in price and after reaching a high of $0.00001198 over the same time period. Despite the meme coin being in the green for today, it is still down more than 8% over the last week.

SHIB is currently the 12th biggest cryptocurrency in terms of market capitalization with its market cap of $6,522,591,988. This places SHIB right behind DAI in the 13th position and in front of TRON in the 15th position. SHIB’s 24 hour trading volume is down more than 21% to now stand at $174,688,929.

Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.

The post 1.1 Trillion SHIB Sold as ETH Whales Get Rid of the Meme Coin appeared first on Coin Edition.

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1.1 Trillion SHIB Sold as ETH Whales Get Rid of the Meme Coin
 

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