- November 25, 2021
- Posted by: JP Buntinx
- Category: Crypto, SHIB, Shiba Inu, Whales
It is not abnormal for cryptocurrencies to note some volatile behavior. However, for Shiba Inu (SHIB), things may look a bit bleak. it appears large token holders are cashing out in quick succession, although the reasoning remains unclear.
Large Shiba Inu Holders Are Bailing
- The “whales” among Shiba Inu holders actively decrease their position day after day.
- Such behavior isn’t unusual, yet it shows belief in the project may be waning.
- SHIB has had a relatively terrible performance three weeks in a row, making speculators rethink their positions.
- As large holders cash out, they add more market pressure and drive prices lower.
- Some analysts think this is investors de-risking their portfolio, although others suspect a degree of market manipulation.
- Profit-taking is a natural trend in financial markets, especially the crypto world.
- A growing number of “whale transactions” is not a good short-term sign, however, even if the long-term consequences will be minimal.
- Making matters worse is the number of active deposits going up as well.
- More liquidity on exchanges can suppress prices, especially for assets with trillions of coins in circulation.
- Sparking more demand for SHIB is necessary, yet the current market trend seems to oppose that idea.
- For now, the supply-demand balance remains skewed and may take some time to recover.
- The overall decrease in exchange volume will not help matters much, although that can change in a heartbeat.
- In theory, with assets like Shiba Inu, a market reversal is never far away.
- However, social media buzz and Google Searches for Shiba Inu have also plummeted.
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