A Shiba Inu Whale Moved $31.7M Worth SHIB In A Massive Transaction. Here's Where The Crypto Went.
Portfolio Pulse from Bibhu Pattnaik
An unknown crypto whale moved 4 trillion Shiba Inu (CRYPTO: SHIB) worth $31.7 million from Shiba Staking to Binance. 89% of SHIB holders are sitting on losses, with 69% holding the cryptocurrency for over a year. Shibarium, SHIB's layer-2 scaling solution, has seen over a million transactions on its testnet, Puppynet.
June 10, 2023 | 5:11 pm
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A crypto whale moved $31.7M worth of SHIB to Binance, while 89% of SHIB holders are in losses. Shibarium testnet has over 1M transactions.
The massive transaction of $31.7 million worth of SHIB to Binance by a crypto whale may cause selling pressure, negatively impacting the price. Additionally, the fact that 89% of SHIB holders are in losses indicates a weak market sentiment. However, the progress on Shibarium's testnet could provide some positive momentum in the future.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100