Shiba Inu Whales Begin Lowering Their SHIB Exposure

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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JP Buntinx has been writing about cryptocurrency since 2012. His interest in crypto, blockchain, fintech, and finance allows him to cover a broad range of different topics.

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