1 Trillion Dollar Whale Dump Has Investors Concerned

The information that was provided by Whale Alert on X indicates that 1.08 trillion SHIB, which is equivalent to $18.36 million, was transferred to Binance today.

Whale sells 1 trillion SHI to Binance as investors grow concerned over bull cycle ending Today, June 24, has seen a monumental development in the cryptocurrency realm, with Whale Alert X reporting that an unknown whale has sold 1.08 trillion SHIB, valued at $18.36 million, to Binance, the world’s leading crypto exchange. As per typical market perspectives, this transaction, involving the meme coin, signaled a decrease in investors’ interest in the asset, sparking a pessimistic outlook on the prospect of future price movements. Meanwhile, data from Etherscan indicates that the number of Shiba Inu holders has been steadily declining since June 10, when the token was trading at a price level of $0.00002. At the time of writing, there were 1.396 million SHIB holders, as the token’s price hovered around $0.00001 per coin. Recent reports by CoinGape Media have highlighted huge SHIB accumulations in the midst of the coin’s bearish swing, suggesting that investors could be buying the dip. However, the monthly chart, which illustrates a crash, has put investors in a precarious position. Shiba Inu’s Price Drops Further As of this writing, the price chart for SHIB has declined, falling by 6.35% to $0.00001683. Over the course of twenty-four hours, the meme coin reached a low of $0.00001658 and a high of $0.00001801, respectively. The monthly chart of Shiba Inu shows a 32.33% decrease in value, while the weekly movement has shown a decrease of 15.18%, respectively. Although it is possible that the current decrease in the meme coin's price can be attributed to the market's general sentiment as well as the large whale dump, it is noteworthy that monumental increases in the SHIB burn rate have failed to strengthen price action. Nevertheless, the cryptocurrency market at large continues to keep an eye on the token as a post-BTC halving rally is anticipated to follow soon, which, combined with the ongoing burning of SHI, could lead to a pump in the near future. The Relative Strength Index (RSI) for SHIB has reached 25, indicating an entry into the oversold zone, which could signal a possible price rebound.

News source：https://www.kdj.com/cryptocurrencies-news/articles/trillion-dollar-whale-dump-investors-concerned.html

The above is the detailed content of 1 Trillion Dollar Whale Dump Has Investors Concerned. For more information, please follow other related articles on the PHP Chinese website!