Over the past few days, Shiba Inu and other cryptocurrencies have experienced huge fluctuations. Meme coin is trading at around $0.00001734, down 3.6% on a weekly basis. 📉

A whale deposited a whopping 1.088 trillion SHIB into Binance. That's about $18 million at current prices. It is stated that the whale has accumulated SHIB since the market bottom period in November and December 2023 and made a profit of approximately $8 million. This represents a 79% increase for the investor. 🐋

It is impossible to determine whether a whale has decided to realize its profit. However, a transaction in which tokens are transferred from off-exchange storage to a trading platform usually indicates an intent to sell. However, SHIB's current market depth as calculated by CoinMarketCap would require a market sale of $1 million worth of tokens to reduce the price by 2% on Binance.

Meanwhile, SHIB is trading up 4.4% in the last 24 hours, recouping some of the losses observed over the last few days.