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100 Biggest Whales Sell 323 Billion SHIB, Here’s What’s Behind It

Wed, 08/31/2022 - 16:17
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Yuri Molchan
Earlier today, largest investors on Ethereum dumped $4 million worth of Shiba Inu, reducing their meme coin stash substantially
100 Biggest Whales Sell 323 Billion SHIB, Here’s What’s Behind It
Cover image via stock.adobe.com

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As per data shared by wallet tracking service WhaleStats, today the overall balance of SHIB owned by the largest Ethereum whales has shrunk by a staggering 323 billion SHIB as they had dumped these meme coins on the market.

Whales keep selling billions of Shiba Inu

WhaleStats platform focused on the largest wallets on various blockchains, including Ethereum and BNB Chain, has shared that earlier today, the biggest 100 wallets on ETH got rid of roughly 323,362,974,939 Shiba Inu canine tokens evaluated at about $4 million.

Earlier today, the whales’ balances comprised a total of $151,728,733. By now, this amount has shrunk to $147,532,685, according to the website of the aforementioned wallet tracker. This now totals 5.13 percent of their portfolio.

The second biggest meme coin by market cap is now the holder of the fifth place among the whales’ largest crypto holdings.

As for the number of holders, Shiba Inu has 1,213,828 – this all-time high has been achieved recently.

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Image via WhaleStats

Whales sell SHIB on the rise

According to data provided by CoinMarketCap, earlier today, the price of the meme token managed to go upward by nearly 5 percent, hitting the $0.00001255 price level. This is where the whales had sold their 323 billions of SHIB, making healthy profits from this sale.

With the massive amount of tokens sold, a 5 percent rise was quite enough to make a profit.

By now, the canine token price has eliminated some of its earlier gains, losing about 2.5 percent of the previous rise.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.