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Here's Why Top Whales Sold 1.4 Trillion SHIB, According to Fresh Trading Data

Wed, 09/21/2022 - 16:05
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Yuri Molchan
Ethereum whales have dumped mind-blowing amount of meme coins over past four days
Here's Why Top Whales Sold 1.4 Trillion SHIB, According to Fresh Trading Data
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Data shared by WhaleStats wallet tracker focused on various chains, including Ethereum, Polygon and BNB Chain, shows that over the past four days, the 100 largest whales on ETH got rid of $14.9 million worth of Shiba Inu canine coins.

Whales sell 1.38 trillion SHIB

WhaleStats shows that at press time the amount of Shiba Inu held by the 100 largest wallets that hold ETH-based tokens contain $125,152,623 worth of Shiba Inu, with this meme coin comprising 4.75% of these whales' portfolio.

Four days ago, as covered by U.Today, the wallets held $140,908,143. The difference with the current equivalent of Shiba Inu totals $14.9 million.

Image via WhaleStats

Dogecoin (DOGE), Shiba Inu Coin (SHIB), Who Else? Comprehensive Guide to Meme Coins in 2022

SHIB price action that drove sale

On Sept. 18, Shiba Inu demonstrated a sudden plunge within one hour, printing a massive red candle and falling roughly 6% to $0.00001053. Since then, SHIB has attempted to rise but failed to hold at the $0.00001106 level.

The whales sold their last portion of SHIB - $4.7 million worth of it - after the second largest meme crypto rose 2.32% before going down again.

Image via TradingView
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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