Here’s the Real Reason Behind Shiba Inu’s Recent Price Plunge of More Than 26% Over the Past 7 Days.
Shiba Inu (SHIB) Shreds Over 26% of Value in the Past 7 Days as the Mysterious SHIB Whale Throws 9.47 Trillion SHIB, Worth $100 Million Back Into the Market.
Shiba Inu (SHIB) along with other major cryptocurrencies experienced intense selling pressure since Monday. The biggest cryptocurrency in the world in terms of market cap, Bitcoin (BTC) is responsible for this widespread selloff in the global crypto market as BTC has sliced 30% of its value within the last 7 days, potentially sending disastrous ripple effects across the broader crypto market.
However, when it comes to SHIB, the mysterious whale also played an important role in dragging down the value of the most popular canine-themed cryptocurrency.
Mysterious SHIB Whale Sold $100 Million Worth of Shiba Inu:
Etherscan.io reveals that the mysterious SHIB whale is responsible for such a sharp SHIB plunge as she sold a mind-boggling total of 9.47 Trillion SHIB, worth $100,046,191($100.0M) to two unknown wallets through three separate transactions on June 9th and 10th.
June 9th, 2022 (Thursday): The mysterious SHIB whale carried two of the massive OUT transactions and sold the $99.67 Million worth of popular canine-themed cryptocurrency to one of the unknown wallets.
June 10th, 2022 (Friday): The Whale carried her third OUT transaction and sold only $373,313 worth of Shiba Inu to another random unknown wallet.
Such a significant selling from mysterious whales has built considerable pressure on the world’s second-biggest canine-themed cryptocurrency in terms of market cap.