Shiba Inu Roars With 8% Weekly Gains, Justin Sun Withdraws 577B SHIB Tokens From Binance In Two Days
Portfolio Pulse from Khyathi Dalal
Shiba Inu (CRYPTO: SHIB) saw a 7.6% gain over the past week, with Tron founder Justin Sun withdrawing 577 billion SHIB tokens from Binance. The withdrawals coincided with SHIB's market rally and a listing of Bone ShibaSwap (CRYPTO: BONE) by Indodax. SHIB's market cap stands at $5.9 billion, despite a 1.3% price drop and a 39% trading volume decrease in the last 24 hours. SHIB holders show strong confidence with a 78% large holder concentration and 75% holding for over a year. Shibarium, associated with SHIB, reported low gas fees and high transaction numbers.
December 19, 2023 | 8:25 pm
News sentiment analysis
Sort by:
Ascending
NEUTRAL IMPACT
Shiba Inu (SHIB) experienced a 7.6% increase over the past week and a significant withdrawal by Justin Sun, indicating potential market movement and investor interest. However, a recent 1.3% price drop and decreased trading volume suggest mixed short-term impact.
The withdrawal by a prominent figure like Justin Sun could be seen as a sign of confidence in SHIB, potentially influencing other investors. However, the recent price drop and lower trading volume indicate uncertainty, leading to a neutral short-term impact score.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Bone ShibaSwap (BONE) was listed by Indodax, potentially increasing its visibility and trading activity. The lack of trading pairs suggests direct acquisition from the marketplace, which could affect its liquidity and price volatility.
The listing of BONE on a major trading platform like Indodax is likely to have a positive impact on its price in the short term due to increased exposure and potential demand from new investors.
CONFIDENCE 70
IMPORTANCE 70
RELEVANCE 80