SHIB Whale Sell-Off: 801B Tokens Dumped

Shiba Inu Whale Dumps 801 Billion Tokens

Large Shiba Inu (SHIB) holders offloaded a staggering 801 billion tokens within 24 hours, representing a 343.18% increase from the previous day's sell-off. This significant sell-off occurred amidst recent market volatility, prompting concerns about SHIB's price trajectory.

Data from IntoTheBlock reveals a substantial negative netflow, indicating a larger outflow of capital from whales than inflow. While the memecoin saw an 8.45% increase in the preceding day, the massive sell-off led to a price correction.

• Whale Activity: Sold 801 billion SHIB tokens in 24 hours.
• Price Impact: SHIB price dropped after an initial 8.45% rise.
• Netflow: Significant negative netflow, showing more selling than buying from large holders.

Impact on SHIB Price

The massive sell-off exerted downward pressure on SHIB's price. After reaching a high of $0.00001173, the price dropped to a low of $0.00001125 before settling around $0.00001131 at the time of writing. This demonstrates the significant influence whales can have on the market.

SHIB Price Prediction

Technical analysis using the Stochastic RSI and MACD indicators points to strong downward momentum. The Stoch RSI dropped significantly, and the MACD turned negative, both suggesting a continuation of the bearish trend. Unless there's a daily close above $0.00001142, SHIB could potentially fall to $0.000010.

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