The price of the Shiba Inu (SHIB) token saw a sharp decline after a mysterious transfer of 332 billion SHIB tokens, worth $10.86 million, to a wallet associated with Robinhood was detected in the last 24 hours. This decline has raised concerns among investors regarding the future of SHIB.
Giant Transfer, Unclear Motives
This surprising transfer sparked wild speculation. Some suspect this signals institutional interest in SHIB, while others suspect the actions of "鯨魚 (jingyu - whale)" or large investors preparing to take advantage. However, the exact reason behind the transfer is not yet known, making investors wary.
SHIB Price Falls, Investors Are Worried
SHIB price shrank 4.31% to $0.00003266 after the transfer, a deeper correction is feared if the support level of $0.000033 is broken. This decline followed an extraordinary 300% price increase in the previous week, sparking fears of profit-taking by investors.
Potential decline in Shib prices in sight
Crypto analysts are monitoring SHIB price movements closely. This mysterious transfer along with recent price fluctuations has made SHIB's future uncertain. Investors are anxiously awaiting further developments in this unclear situation.