Binance’s holdings in Shiba Inu (SHIB) noticeably change in size
As reported on CoinMarketCap, there has been an unexpected change in SHIB reserves on major cryptocurrency exchange Binance. Three weeks after the exchange published its proof-of-reserve holding in Shiba Inu tokens, which previously stood at 59.3 trillion SHIB, has dropped to less than 1 trillion tokens, equivalent to $9.2 million.
To date, Binance’s reserves in SHIB stand at 55.93 trillion tokens and are equivalent to $512.52 million at the current SHIB price of $0.0000092.
Interestingly, Binance’s holdings in SHIB are currently valued at around $11 million, even 1 trillion tokens less than three weeks ago. If you add in the trillion SHIB sold, it turns out that the black and yellow crypto giant made over $20 million on Shiba Inu in three weeks.
How do traders deal with SHIB?
During the period under review, not only Binance but also other minority holders of the token trimmed their holdings and profits in SHIB. Thus, as reported by U.Today, the number of token holders fell by 2.3% in the last week of November but then rebounded by 0.7% to 1.26 million addresses as December progressed.
At the same time, SHIB price first rose, but then it failed to overcome the upper boundary of the price corridor of $0.0000095 and fell back to the lower level where investors started buying it back.
