'Dogecoin Killer' Shiba Inu Witnesses Massive 421.6B Token Move By Whale, Resulting In $6M+ Loss
Portfolio Pulse from Mehab Qureshi
A 'whale' transferred 421.6 billion Shiba Inu (SHIB) tokens, resulting in a $6M+ loss. The transaction involved depositing 311.6 billion SHIB to Binance and selling 110 billion SHIB on a DEX. Despite the large sale, SHIB's price remained stable, showing only slight fluctuations.
February 26, 2024 | 6:26 am
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NEUTRAL IMPACT
A whale's sale of 421.6 billion SHIB tokens resulted in a significant loss but had minimal impact on SHIB's price, which showed only slight fluctuations.
The sale of a large amount of SHIB by a whale could have led to a price drop due to increased supply on the market. However, the price of SHIB remained stable, indicating strong market resilience or absorption of the sell-off without significant price impact.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 90