The cryptocurrency market was jolted by a massive sell-off of Shiba Inu (SHIB) tokens. Speculation ran rampant as a single entity, purportedly controlling 11 wallets, offloaded a staggering 533.6 billion SHIB tokens, amounting to nearly $16 million in DAI, a stablecoin pegged to the US dollar. This unprecedented transaction, highlighted by blockchain analytics firm Spot On Chain, revealed a jaw-dropping profit of over $8 million, showcasing the extreme volatility inherent in the crypto space. Shiba Inu Massive Offloading Around 16 hours ago, 11 wallets (probably one person) jointly sold 533.6B $SHIB for 15.99M $DAI at ~$0.00003, realizing a joint profit of $8.24M (+106%) in less than a month! Currently, these 11 wallets still hold the newly acquired $DAI. Which token will they buy next? Follow… pic.twitter.com/y0mhsMQQn4 — Spot On Chain (@spotonchain) March 31, 2024 The repercussions of this sell-off reverberated throughout the SHIB community and the wider cryptocurrency market. Despite a minor uptick of 0.21% in SHIB’s price over the last 24 hours, the overall sentiment cooled significantly. Related Reading: Riding The Ripple: XRP Stellar 1-Year Performance Leaves Banks In The Dust Trading volume plumme ..
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 Slumps As Whale Sell-Off Dampens Momentum – Details){kind=link}