Shiba Inu (SHIB) whales profit $109 million during SHIB price drop

Tap the avatar to watch live, let's chat!

According to blockchain analysis platform Lookonchain, the journey of the whales with SHIB began on August 6, 2020, when they invested $3,800 to purchase a massive 15.28 trillion SHIB tokens.

Shiba Inu (SHIB) is facing increasing pressure, with its price dropping 5.57% in the past 24 hours. It is currently trading at approximately $0.0000241, with a market capitalization of $14.1 billion. The recent drop has raised concerns about SHIB's short-term decline.

Technical indicators like the Bollinger Bands suggest that SHIB's price may drop in the short term. The lower Bollinger Band indicates that the token's price may fall to $0.0000238 and could drop to around $0.0000228 as it seeks a local bottom.

Despite the continued decline of SHIB, it is approaching the critical 50 EMA level, which could serve as a turning point. If the token finds support at $0.000024, it may re-attract investor interest and achieve a potential recovery.

Tap the avatar to watch live, let's chat!