News of Binance’s legal dispute with the Securities and Exchange Commission (SEC) hit memecoin markets on Monday, with Shiba Inu (SHIB) prices dropping below $0.0000080 for the first time in 2023. On-chain data shows that whale investors are not succumbing to the FUD. Is this enough to force an early rally?
On June 5, SHIB price fell 5% to a 6-month low of $0.0000079 USD. Here’s what could have triggered an early Shiba Inu rally after whales and strategic investors saw a buying opportunity. Whale investors are not upset about the price crash, and order books show that investors are lining up to buy SHIB.
