Whales Move 27.5 Trillion SHIB in One Day, Shiba Inu Plummets 23%?

In the ever-changing landscape of the cryptocurrency market, Shiba Inu (SHIB) is facing tremendous pressure. According to IntoTheBlock, major holders have removed up to 27.5 trillion SHIB from the Shiba Inu market in the past 24 hours, causing the token's price to plummet by 23.28% to $0.00001874. Over the past week, SHIB outflows increased by 754%, totaling 27.5 trillion SHIB, while its total trading volume reached 63.7 trillion SHIB in the past 24 hours, with inflows to whale addresses or large holders amounting to 19 trillion SHIB, a significant weekly increase of 133%, and trading volume also surged by 55.81%. This series of data indicates that whale activity has significantly influenced Shiba Inu trading.

Currently, market outflows far exceed inflows, likely due to ongoing sell-offs. Amid widespread uncertainty and pessimism, some whales have chosen to exit the market. The primary reasons for the significant increase in outflows are asset sales from whale addresses or withdrawals from exchanges. During periods of extreme volatility, major shareholders may be forced to sell assets to avoid liquidation, and large withdrawals often involve funds leaving exchanges, which are also major holders. However, there is good news for Shiba Inu, as its partnership with Chainlink enables ecosystem tokens like SHIB, BONE, and LEASH to accept CCT standards, and Shibarium will use Chainlink's CCIP as a normative cross-chain infrastructure and data flow, which may bring new opportunities and turning points for Shiba Inu's future development.

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