$SHIB Whale Sells 1 Trillion Coins, Triggering Panic Among Investors and Raising Questions About the Coin\'s Future Trajectory

The prices for $SHIB have been trading sideways in the past week with a 14.6% fall. In the middle of bearish sentiments, a whale has sold around 1 trillion Shina Inu coins on Binance. The move has triggered a sense of panic among investors, raising questions about the coin's future trajectory.

Shiba Inu's price has been trading flat over the past week, showing a 14.6% decrease. A whale sold about 1 trillion SHIB on Binance amid bearish sentiments, sparking concerns over the coin's future direction.

Shiba Inu Whale Sells 1 Trillion Coins

One of the most interesting days in Shiba Inu's trading history was June 24. A whale sold 1 trillion SHIB on Binance, the world's largest crypto exchange, during a decline in the token's price.

This transaction has instilled a sense of fear in the crypto market, leading investors to speculate that SHIB's bull cycle may be ending. Recent days have seen a reinforcement of these bearish sentiments, with a notable decline experienced by meme coin holders.

Shiba Inu Price Drop Post June 18

Shiba Inu's price has declined rapidly since the broader crypto market faced issues due to a lack of bullish cues. On June 18, the price of Shiba Inu reached a 3-month low of $0.000017. However, over the following 48 hours, the price rose 10%, reaching $0.000019 on June 20.

The accompanying chart shows that the decline in Shiba Inu prices began in late May, and market fear was heightened in June by hawkish US macroeconomic indices. Between May 29 and June 18, the SHIB price dropped 42.7%, going from $0.000029 on May 29 to a record low of $0.000017, not seen in over a year.

At press time, the coin trades at $0.00001691, down 4.9%, according to CoinMarketCap.

Will SHIB Drop Further?

As of July 24, the price of Shiba Inu is predicted to decrease by 5.16%, moving from the current price estimate to $0.00001604. Other technical indicators suggest a bearish current sentiment, with the Fear & Greed Index reading 51 (Neutral) at the moment.

Over the past 30 days, Shiba Inu has had 12/30 (40%) green days and 12.94% price volatility. The data also indicates a widespread bearish sentiment for Shiba Inu's price prognosis, with 10 technical analysis indicators showing bullish signals and 23 showing bearish signals.

News source：https://www.kdj.com/cryptocurrencies-news/articles/shib-whale-sells-trillion-coins-triggering-panic-investors-raising-questions-coin-future-trajectory.html

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