#Shiba Inu (SHIB) saw a notable decline of 6%, reaching approximately $0.000032. This drop was precipitated by a substantial transfer of 2 trillion #SHIB tokens within Crypto.com's hot wallets, valued at over $97🤑🤑 million, exerting downward pressure on SHIB's price over the past day.
Despite the downturn, there has been significant engagement from prominent investors, commonly referred to as whales, within the blockchain. These investors have been actively burning SHIB tokens, effectively reducing their circulation. Furthermore, Whale Alert, a service monitoring large transactions, detected a substantial quantity of SHIB tokens, valued at $10.85 million, in a wallet associated with Cumberland, a leading crypto trading platform.
The discovery of this significant token volume on March 11 has sparked intrigue within the crypto community. Nonetheless, despite these fluctuations, SHIB continues to command attention due to the involvement of major investors and ongoing token burning.
Presently, Shiba Inu's price is exhibiting substantial volatility, having experienced a decline of more than 18% in the past week. It is presently trading at $0.00003248.
