🚨 421 billion shiba tokens have been sold by whales, what is the impact?

one whale investor has sold around 421.6 billion SHIB tokens at a price of US$0.000009437, reaching a total value of almost US$3.98 million.

This massive sale occurred on Saturday (24/2/2024), with the whale carrying out transactions across two platforms, namely Binance and an undisclosed DEX.

The background to this transaction reveals that the whale initially acquired the SHIB token for an amount of US$10.30 million when the market value of Shiba Inu was at US$0.00002443.

However, after holding the token for 2.5 years, the whale decided to liquidate it at a price of US$0.000009437. This move resulted in a sizable loss of around 61.4 percent, estimated at around US$6.32 million. $SHIB #SHIBA_INU