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Whopping 1.1 Trillion SHIB Sold by Whales as They Rush to Get Rid of Shiba, Here’s Why

Sat, 09/17/2022 - 20:00
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Yuri Molchan
A record amount of Shiba Inu has been dumped by ETH whales over the past three days, here’s what drove them to do that
Whopping 1.1 Trillion SHIB Sold by Whales as They Rush to Get Rid of Shiba, Here’s Why
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Over the past three days, the largest wallets on the Ethereum chain have got rid of more than 1.1 trillion Shiba Inu tokens, according to the recent data shared by WhaleStats. A recent transaction to sell this canine token carried nearly 61 billion SHIB to Binance exchange.

The aforementioned wallet tracker shared that since September 14, the SHIB stash held by top Ethereum whales has shrunk from $152 million to $142 million on September 16 and down to $140 million worth of Shiba Inu today.

The amount of SHIB evaluated in this sum of USD equals a staggering 1,115,879,828,326 meme coins.

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A most recent transaction carried a total of 60,921,271,741 SHIB to the Binance exchange, which was done most likely to sell this crypto.

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Image via WhaleStats

Whales have been dumping SHIB throughout the week has the token has been going down. According to data from CoinMarketCap, over the past seven days, the second largest meme coin has lost slightly more than 10 percent of its market value.

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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.