Shiba

2024

Bitcoin

Shiba Inu

<ul>
 <li><strong>A major investor withdrew 350 billion SHIB tokens from the market, with profits of $6.12 million.</strong></li>
 <li><strong>SHIB’s price rose by 5.45%, moving from $0.00001798 to $0.00001896.</strong></li>
</ul>
<p>In the recent downtrend from the volatile cryptocurrency markets, Shiba Inu (SHIB) has been grappling with a turbulent phase amid a broader market correction. Today, a notable event has caught the attention of market observers: a <a href="https://thenewscrypto.com/shiba-inu-1000-worth-of-shib-could-reach-1m-heres-when/" target="_blank" rel="noopener noreferrer nofollow">major whale</a> withdrew a substantial amount of Shiba Inu tokens from Binance, amounting to 353.83 billion SHIB, valued at approximately $6.6 million–a profit of $6.12 million, as per data from Lookonchain.</p>
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    <p lang="en" dir="ltr">A smart whale withdrew 353.83B <a href="https://twitter.com/search?q=%24SHIB&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$SHIB</a>($6.6M) from <a href="https://twitter.com/hashtag/Binance?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Binance</a> 45 minutes ago and currently holds 838.87B <a href="https://twitter.com/search?q=%24SHIB&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$SHIB</a>($15.5M).<br><br>The whale's profit on <a href="https://twitter.com/search?q=%24SHIB&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$SHIB</a> is $6.12M.<a href="https://t.co/2knxKp4yEZ" rel="noopener noreferrer nofollow">https://t.co/2knxKp4yEZ</a> <a href="https://t.co/05AQV2zqLw" rel="noopener noreferrer nofollow">pic.twitter.com/05AQV2zqLw</a></p>— Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1803734186504688014?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">June 20, 2024</a>
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<p>This maneuver comes as SHIB’s price experienced a modest 5.45% increase, trading at $0.00001864, with a market capitalization of approximately $10.98 billion.</p>
<p>However, despite this slight uptick, SHIB’s daily trading volume has declined sharply by over 38%, now standing at $282 million. Analysts speculate whether the recent market dip is a result of a necessary correction in major cryptocurrencies like Bitcoin (BTC), or merely a transient market adjustment. Further, the broader memecoin sector has shown <a href="https://thenewscrypto.com/has-the-memecoin-season-come-to-an-early-end/" target="_blank" rel="noopener noreferrer nofollow">signs of weakness</a>, with a notable 30-day relative strength index reflecting a decline of 25.52%.</p>
<p>Moreover, the issuance of new memecoins by well-known figures has tapered off recently, underscoring a shift in market dynamics and investor sentiment towards these speculative assets.&nbsp;</p>

Shiba Inu Investor Withdraws 350B SHIB Amidst Crypto Market Uptick

TheNewsCrypto

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