Shiba Inu price gives important signal despite whales selling off
According to cryptocurrency analytics portal WhaleStats, over $6.5 million worth of SHIB was sold by large Ethereum holders over the past two days. Despite the massive selloff, the cryptocurrency lost only 6% against the dollar and 3.5% against bitcoin during the period under review.
The one hundred largest ETH whales still own 8 trillion SHIB, equivalent to $73.5 million at the moment and representing 1.5% of the Shiba Inu token offering. Such numbers make SHIB the third largest asset in this investor group’s portfolio after Ethereum of various forms and stablecoins.
feeling around shiba inu
Overall, the mood surrounding the Shiba Inu can now be described as mixed, with roughly equal numbers of the favorable and none factors. On the one hand, SHIB outperformed DOGE by nearly 30% last week, overtaking Solana by CoinMarketCap in market capitalization and finally signaling activity from Shiba Inu towards Shibarium, the long-awaited Layer 2 solution.
On the other hand, the price of SHIB is falling and returning to the bottom, with large and medium-sized investors getting rid of positions worth millions of dollars, which puts additional pressure on quotations.
Nevertheless, SHIB still survived the worst of the last six months of the bear market. Perhaps the most interesting thing for the Shiba Inu is just the beginning.
