Shiba Inu whale bought massive amount of meme coins, while SHIB price is in nosedive

Several whales continue accumulating Shiba Inu coins in anticipation of the debut of Shibarium this week. According to the wallet tracker service WhaleStats, a prominent Ethereum wallet owner recently purchased a substantial amount of SHIB. The SHIB price has since dropped 10% and “added” another zero, returning to its November low.

A whale using the identity “BlueWhale0073” purchased 126,120,815,899 Shiba Inu, shelling out $1,363,366 for the acquisition. This SHIB lump’s worth has now dropped to $1,241,028. The exchange happened about 16 hours ago. This whale also took 200,000,000,000 SHIB on March 7.


SHIB/USD 4-hour chart | Source: TradingView

Unfortunately, the whale has sold all of its Shiba Inus as of the time of writing. SHIB is changing hands at $0.00001013.

Shiba Inu is currently held by the top 100 Ethereum wallets, totaling $601,204,724. This accounts for just under 12% of their total portfolio.

Shiba Inu decreased by more than 10% the previous day, reaching a low of $0.00000986 that was last seen at the beginning of November. As a result, the price of the well-known meme coin has “recovered” one more zero.

With the sharp decrease of the market leader Bitcoin, SHIB has experienced a significant decline along with the rest of the crypto market. BTC has fallen below the $20,000 threshold due to several events, such as the proposed electricity tax in the United States, a sell-off on the stock market, Silvergate’s bankruptcy, and a few more.

Failed crypto broker keeps selling assets, including popular meme coin SHIB, which keeps dropping lower

Bankruptcy-battered crypto broker Voyager keeps dumping its holdings. On the last day, it reportedly dumped about a trillion SHIB and other cryptocurrencies in significant numbers onto the market via the two biggest cryptocurrency exchanges, Binance and Coinbase, according to a report by @OnchainDataNerd. As a result of the loss in Bitcoin’s price, Shiba Inu’s price is also continuing to decrease along with those of other altcoins.

The source tweeted that Voyager moved massive chunks of Ethereum, VGX, LINK, and SHIB to Binance and Coinbase. It was $33 million worth of Ethereum (22,200 tokens), $1 million in LINK, $6 million in VGX, and $9 million in the prominent canine token β€” 825 billion Shiba Inu.

These Voyager liquidations continue even as the market focuses entirely on Silvergate’s insolvency and BTC, which unexpectedly fell below $20,000 due to a slew of unfavorable circumstances. On March 9, Voyager sold 400 billion SHIB, or $4.4 million, half of the money it had shifted to Binance and Coinbase.

The Shiba Inu cache was the largest owned by this broker by late February when Voyager had already started liquidating its cryptocurrency holdings. It had been consistently selling SHIB daily for the previous three months. Shiba Inu was part of the $358.52 million worth of cryptocurrency that Voyager had sold; it earned $407.3 million in USDC in return. It still has $271.5 million in cryptocurrency, which it plans to sell.

SHIB has had a price decline of over 9% over the past day, dropping to a value of $0.00000995 and “adding” another zero to its exchange rate. Since the beginning of November, when the price of the token was pushed down by the demise of the FTX crypto giant, this is the lowest position that SHIB has ever reached.

Shiba Inu is falling along with the leading cryptocurrency Bitcoin, dropping below $20,000 overnight. Silvergate’s bankruptcy, the decline in stock prices, worries about more rate increases, and a recently proposed U.S. tax on the power that may severely hurt Bitcoin miners are a few of the factors that contributed to it.

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