The global digital asset market printed brief red indexes as crypto whales decided to dump in order to book profits. Amid this heavy crash, an on-chain data tracker caught a whale dropping a massive amount of Shiba Inu (SHIB) tokens making its price drop by more than 13% in the last 24 hours.
Shiba Inu to decline more?
According to the data provided by WhaleAlert, a crypto whale dumped 1 trillion of SHIB tokens (approx worth $28.8 million) in a single transaction. The whale wallet moved this heavy amount of Shiba Inu tokens to GateIo.
Shiba Inu riding high on Bitcoin’s bullish rally saw a major price crash on Friday. SHIB’s 13% price drop led to wiping out the gain it added over time. Now, SHIB’s price is down by almost 20% in the last 7 days. However, Shiba Inu price is still up by 198% in the last 30 days.
The popular meme token is trading at an average of $0.000029, at the press time. Its 24 hour trading is up by more than 6% to stand at $2.5 billion. The second biggest meme token is holding a market cap of $17.1 billion.
Meanwhile, SHIB is not the only crypto that recorded a heavy price crash over the last 24 hours. The cumulative crypto tokens category market cap dropped by 12% over the past day to stand at $56.7 billion. Its 24 hour trading volume is up by 10% to stand at $16.16 billion.
Meme tokens crash
The biggest meme coin, Dogecoin (DOGE) price also dropped by 10% in the last 24 hours. This led to a price drop of 4% over the last 30 days. DOGE is trading at an average price of $0.163, at the press time. Its 24 hour trading volume is down by 4% to stand at $4.5 billion.
The third biggest meme token, PEPE recorded a similar kind of decline as its price shed around 7% of its gains. However, it is still up by 655% in the last 30 days.
PEPE is trading at an average price of $0.000009, at the press time. Its 24 hour trading volume is down by 13% to stand at $2.3 billion. PEPE is holding a market cap of $3.8 billion. It is now getting direct competition from dogwifhat (WIF).
