Shiba Inu Whale Exodus: 18 Billion Coins Dumped as Price Tanks
Another day, another crypto bloodbath—this time, it’s Shiba Inu’s turn. Whales just unloaded a staggering 18 billion SHIB tokens, sending the meme coin into a tailspin. Guess even the ’Dogecoin killer’ isn’t immune to profit-taking (or panic-selling).
Market watchers are left scratching their heads: Is this a strategic retreat or just another case of whales playing hot potato with retail investors’ dreams? Either way, the ’buy the dip’ crowd better hope these sellers don’t have more firepower left.
Funny how these ’decentralized’ tokens always seem to move when a few big wallets sneeze. But hey, at least the whales are consistent—consistently ruthless.
Shiba Inu MDIA and whale supply | Source: Santiment
SHIB has also underperformed as investor demand has weakened. According to CoinGecko, its 24-hour trading volume stood at 472 million dollars on Thursday, significantly lower than Dogecoin’s 3.64 billion dollars and Pepe’s 3.4 billion dollars. Even smaller meme coins like Bonk, Dogwifhat, and Moo Deng reported higher volume.
Meanwhile, Shiba Inu’s burn rate has declined. The 24-hour burn rate dropped 11.5 percent to 13.5 million tokens. Fewer than 50 million SHIB tokens have been burned over the past five days—an unusually low figure.
Shiba Inu price analysis
The three-day chart shows that SHIB has remained under pressure for several months, declining from a high of 0.00003320 dollars in December to the current level of 0.000015 dollars.
The token remains below both the 50-day and 200-day moving averages. Additionally, it has formed a large bearish flag pattern, characterized by a steep downward MOVE followed by a period of consolidation. The consolidation phase resembles a rising wedge, a bearish technical formation made up of two ascending and converging trendlines.
