About four days ago, Times Tabloid reported a 30% SHIB price dip over a period of 7 days. It has been revealed that a mysterious Shiba Inu whale initiated the sale of a total of 9.47 trillion SHIB worth about $100 million before a notable downtrend.
In the last few days, the selloff in the crypto market has been notable, leading to the massive price dip of the two largest cryptocurrencies in the market, Bitcoin (BTC) and Ethereum (ETH). Before the two digital currencies rebounded, they were closer to dropping below $20,000 and $1,000, respectively.
This unfavorable major trend impacted the whole crypto market negatively, as other cryptocurrencies, including the hottest dog-themed token Shiba Inu (SHIB), replicated the trend as usual.
Howbeit, the effect of the mysterious Shiba Inu whale on the SHIB market, leading to a 30% price dip in a week, cannot be thrown under foot.
Mysterious Shiba Inu Whale Sold 9.47 Trillion SHIB Tokens
According to the on-chain data provided by Etherscan, the sale of a whopping 9.7 trillion SHIB tokens worth $100,046,191, had a hand in the steep fall of Shiba Inu’s price at that time.
Based on Etherscan’s data, the whale initiated the sale via three separate transactions into two different wallets between the 9th and 10th of June 2022.
The first two transactions that were initiated on the 9th of June into the first wallet carried $99.67 Million worth of Shiba Inu (SHIB). While the third transaction that was initiated on the 10th of June into the second wallet carried the remaining $373,313 worth of SHIB.
At the time of filing this report, Shiba Inu (SHIB) is trading at $0.00000824, with a relatively 3% price upsurge in the last 24 hours, according to CoinMarketCap.