Reading time: ~2 m
According to the on-chain metric from WhaleStats, over the past two days, large holders in the Ethereum ecosystem have sold 152.7 billion SHIB coins, which at the current rate is estimated at $ 2 million.
Against the background of these events, the asset over the past day lost about 0.8% in value, and the trading volume sank by an impressive 22.4%. Today, September 12 at 17:50 Moscow time, cryptocurrency quotes are kept at $0.00001305. According to many analysts, the further dynamics of the memecoin will largely depend on the consolidation of the price relative to the global extreme $0.00001273.
On Wednesday, September 7, the editors of the Crypto.ru reported: an unknown cryptokit transferred more than 164 billion Shiba Inu coins to the balance of the Binance site. According to experts, such actions of the investor determine his intention to eventually sell his assets on the market.
Since the beginning of September, the address of the 0xf05e2a70346560d3228c7002194bb7c5dc8fe100 has massively bought coins, and the volume of incoming transactions has overcome the mark of 100 billion coins. But by September 7, crypto China decided to sell assets with a market order totaling $1.99 million.
Most experts expressed the opinion that such behavior of large holders can be considered a distinct bearish signal. The bottom line is that mass transfers of coins to exchange wallets expand the available supply, which in conditions of low demand will negatively affect the positions of Shiba Inu.
Since September 9, SHIB quotes have several times attempted to consolidate above the global supply area of $ 0.00001341, but so far without success. It seems that now there is not enough consumer activity to overcome this zone and the subsequent development of a sustainable bullish trend.
#Cryptokits #sell #Shiba #Inu #coins