A major sell-off of Shiba Inu (SHIB) has been tracked on the blockchain, which probably led to today’s crash. This has been blamed on the founder and CEO of Tron, Justin Sun.
SHIB price experienced major turbulence, which led to over 31% price downtrend within 24 hours, bringing the token to trade around $0.00000914.
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BNB Whale Sold Whopping 5 Trillion SHIB
Although all the top cryptocurrencies, including Bitcoin (BTC) and Ethereum, have been enduring this unfavorable situation together, Shiba Inu (SHIB) massive dump has been blamed on the whopping sales of SHIB tokens in trillions over the past 24 hours.
As tracked on Etherscan, an anonymous whale was behind the major sell-off. The whale reportedly sold 5 trillion SHIB worth about 52.9 million in two transactions within the last 24 hours. All the tokens were sent to an address named Binance 14 .
A look into the whale’s wallet shows that he still has 3 trillion SHIB worth $31.44 million.
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Could This Whale Be Justin Sun?
Following the enormous selloff, rumors began to spread that the mysterious whale’s wallet belongs to the founder and CEO of Tron, Justin Sun.
Gossip SHIB, a popular member of the Shiba Inu community, who also noticed the activity of the mysterious whale, directly asked Justin Sun to clarify the allegation.
Captioning the screenshot of the whopping transactions, Gossip SHIB wrote, “Justin Sun is the evil behind SHIB dip today? Conspiracy or true?”
at the time of the dip it looked like this pic.twitter.com/80rT76hwpd
— ♛ Gossip SHIB ♛ (@GossipShib) May 12, 2022
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