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<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/shiba-inu-price-declines-significantly-due-to-whale-sales/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Shiba Inu Price Declines Significantly Due to Whale Sales</a><br></p>
<p style="text-align: justify">The price of <a href="https://en.coin-turk.com/analyst-predicts-significant-price-increase-for-shiba-inu/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Shiba</a> Inu (<a href="https://en.coin-turk.com/shiba-inu-cryptocurrency-experiences-price-correction/" data-wpel-link="internal" rel="noopener noreferrer nofollow">SHIB</a>) has experienced a significant decline over the past week. The price dropped by 22%, triggering panic in the markets due to heavy selling by whales. A recorded drop of 10% on December 19 further heightened investor concerns. As the <a href="https://en.coin-turk.com/pepe-gains-attention-with-upward-moves-in-the-memecoin-sector/" data-wpel-link="internal" rel="noopener noreferrer nofollow">meme token</a> fell below the $0.000024 level, hopes for recovery remain alive.</p>
<h2 style="text-align: justify" id="whale-sales-create-panic">Whale Sales Create Panic</h2>
<p style="text-align: justify">On-chain data analysis platforms shared details of large-scale SHIB sales. According to Lookonchain, one whale sold 250 billion Shiba Inu tokens for $6.05 million. This whale had purchased 15.28 trillion SHIB for just $3,800 in August 2020. This sale triggered a panic effect, leading to a wave of declines in the market.</p>
<p style="text-align: justify">Community members expressed concerns over the decrease in SHIB burn rates following the decline. The Shibburn portal recorded a weekly reduction in burn rates of up to 70%. However, the community hopes that positive expectations for TREAT and SHIFU tokens may support the price. “This decline is temporary; the market may recover soon,” is a frequently shared sentiment.</p>
<h2 style="text-align: justify" id="recovery-and-future-predictions-for-shiba-inu">Recovery and Future Predictions for Shiba Inu</h2>
<p style="text-align: justify">Shiba Inu’s daily price movement fluctuates between $0.000023 and $0.000026. Currently, the price trades at $0.0000241, finding support from the 0.5 Fibonacci retracement level. Technical analyses indicate that the price could rise again as long as it does not break below $0.0000234.</p>
<p style="text-align: justify">Experts consider the $0.000037 level to be a critical resistance point. It is predicted that the SHIB price could reach $0.0000998 within a bull market in 2024. The market fluctuations expected in January may present significant opportunities for traders.</p>
<p style="text-align: justify">In conclusion, the fluctuations in the Shiba Inu price bring both risks and opportunities. It is crucial for traders to closely monitor the market while relying on technical analyses.</p>
<p>The post <a href="https://en.coin-turk.com/shiba-inu-price-declines-significantly-due-to-whale-sales/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Shiba Inu Price Declines Significantly Due to Whale Sales</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.</p>

Shiba Inu Price Declines Significantly Due to Whale Sales

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