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Shiba Inu

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There was a notable sell-off in the last hour as a <a href="https://u.today/shiba-inu-shib-on-verge-of-bullish-comeback-possible-scenarios">Shiba Inu</a> whale recently liquidated 250 billion SHIB worth $6.05 million. With a mere $3,800, this whale made its first foray into the SHIB market on Aug. 6, 2020, purchasing an incredible 15.28 trillion SHIB, which reached its peak value of $1.22 billion. The whale has made a total profit of $109 million over the course of their holdings, and they still have 2.15 trillion <a href="https://u.today/shiba-inu-shib-23-plunge-in-10-days-whats-happening">SHIB,</a> or roughly $52.18 million.
This sell-off suggests that whale behavior may be changing, which frequently affects the mood of the retail market. Large-scale liquidations have the potential to frighten smaller investors and raise volatility, especially when they occur at important support levels.
<img src="https://u.today/sites/default/files/inline-images/image_1563.png" data-entity-uuid="0068c3f5-6190-4ea1-91ae-8a06ef365977" data-entity-type="file" alt="SHIBUSDT" data-caption="<a href=&quot;https://www.tradingview.com/&quot;>SHIB/USDT Chart by TradingView</a>">
Additionally, the quick sell-off emphasizes how crucial it is to keep an eye on whale activity in order to forecast future price movements on assets such as <a href="https://u.today/shiba-inu-shib-on-verge-of-bullish-comeback-possible-scenarios">SHIB</a>. A look at the given price chart shows that Shiba Inu has been declining, most recently breaking below the crucial 50 EMA, which is usually a strong support line.
The breakdown emphasizes the absence of bullish momentum to support higher levels and points to increased selling pressure. SHIB is now trading at about $0.00002408, and the next important support levels are close to $0.00002283 and $0.00002045. A more significant correction might occur if these levels are not maintained. With its potential in DeFi and meme culture, <a href="https://u.today/shiba-inu-whale-moves-explode-258-sparking-market-frenzy">Shiba Inu</a> continues to attract a robust community and speculative interest despite the pessimistic short-term outlook.
Both new and seasoned investors should exercise caution, though, given the state of the market and whale activity. Despite whales' significant profit-taking, the move puts more pressure on SHIB, which is still having trouble finding a steady support level. Future price changes and any resurgence of whale activity should be monitored, as it is the only real-time indicator of the asset's performance. <a href="https://u.today/shiba-inu-shib-whales-selling-rapidly-details">Read original article on U.Today</a>

Shiba Inu (SHIB) Whales Selling Rapidly: Details

U_Today

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