Part of Large Shiba Inu Withdrawals that Shook the Crypto Market Moved to MoonTaurus Presale, Experts Explain Why
Recent large withdrawals of Shiba Inu (SHIB) have significantly impacted the crypto market, raising questions about where the funds are headed. CoinMarketCap reported a transfer of 2.7 billion SHIB, valued at $48,343,500, from Robinhood to an unknown wallet. Amidst this market shake-up, a substantial portion of these withdrawals have been funneled into the MoonTaurus (MNTR) presale. This new presale meme coin has already raised over $150,000 in its first phase, with tokens priced at $0.005, generating considerable excitement among investors.
🔸 Shiba Inu: Whale Activity and Market Uncertainty
Recent activity in the Shiba Inu ecosystem indicates a possible shift in market sentiment. Shiba Inu, trading at $0.00001797 with a market cap of over $10.5 billion, saw a substantial withdrawal of 2.7 billion SHIB from Robinhood to an unknown wallet, valued at approximately $48.3 million. This move by a whale suggests potential price volatility as large holders alter their positions.
Despite this, Shiba Inu’s overall market metrics reveal a mixed picture. The increase in supply held by top addresses indicates whale accumulation, whereas the sharp rise in exchange inflows indicates increased selling pressure. These dynamics, as indicated by the rising NVT ratio and declining MVRV ratio, may result in a price correction. However, Shiba Inu continues to attract new addresses, showing robust network growth despite market uncertainties.
