The transfer of 400 billion Shiba Inu (SHIB) has caused concern.

Crypto analytics platform Spotonchain reported that two large amounts of Shiba Inu ($SHIB ) were transferred in the early hours of December 19.

The development coincided with a 10 percent drop in the price of Shiba Inu following Bitcoin’s Fed Reserve announcement. Spotonchain reported that a whale who bought Shiba Inu early and made a profit of $108 million thanks to his investment, moved a total of 399.99 billion SHIB to US-based crypto exchange Gemini.

The Shiba Inu whale purchased a total of 15.2 trillion $SHIB for just 10 $ETH the total value of his portfolio to $48.54 million. This figure shows that the whale has made a total profit of $107.7 million.

Another analysis report revealed that SHIB whales have been liquidating their memecoins to a large extent. This coincided with the Shiba Inu price dropping by around 10 percent in the last 24 hours.

SHIB price fell from $0.00002618 to $0.00002345. In the last 10 days, the popular memecoin has lost more than 21 percent of its value. Not only #Shiba Inu, but also memecoins in general have seen sharp declines.

Factors such as money outflow from memecoins, BTC decline, or BTC dominance increase will push Shiba Inu prices to lower levels. In the opposite scenario, upward movements in the pair can be expected.