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$SHIB Falls As Whale Sell-Off Dampens Momentum – Details The cryptocurrency market was shaken by a large #SHIB token sell-off. A single individual, apparently owning 11 wallets, sold 533.6 billion SHIB tokens, worth approximately $16 million in DAI, a stablecoin tied to the US dollar, sparking speculation. Spot On Chain reported that this unique trade yielded nearly $8 million, demonstrating crypto's tremendous volatility. The SHIB community and cryptocurrency market felt this sell-off. SHIB's stock rose 0.21% in 24 hours, although sentiment softened. Trade volume fell 32.27% to $550.84 million, showing a sharp drop in investor interest and market activity. CoinGlass, a major crypto analytics tool, revealed a 1.51% drop in SHIB's open interest, suggesting a trading strategy adjustment during market turmoil. As SHIB speculation grows, all eyes are on the 11 wallets holding the acquired DAI. Everyone wonders what the seller will do next and which tokens they will focus on. This major market player's unknown future actions demonstrate the crypto market's volatility and the necessity for investors to be cautious. The SHIB market cap is $16.9 billion. TradingView.com chart After this massive sell-off, market players are coping with its effects. The sell-off highlights cryptocurrency's tremendous volatility and the potential for rapid and large profits or losses. Shiba Inu Recovers Shiba Inu has overcome difficulties and made steady progress despite recent swings. Since its March 20 low of $0.000024, SHIB has risen to $0.00003050. SHIB's resilience shows its capacity to overcome challenges and grow. Shiba Inu is undergoing a big correction, and buyers are struggling to regain control. Even after briefly breaking the long-term resistance trendline, SHIB falls below $0.000010. The double-bottom pattern continues, but sellers remain in charge. The trendline struggle will likely determine SHIB's price trend in 2024. Analysts and investors are eagerly following this major sell-off. #Memecoins #WIF

$SHIB Falls As Whale Sell-Off Dampens Momentum – Details

The cryptocurrency market was shaken by a large #SHIB token sell-off. A single individual, apparently owning 11 wallets, sold 533.6 billion SHIB tokens, worth approximately $16 million in DAI, a stablecoin tied to the US dollar, sparking speculation. Spot On Chain reported that this unique trade yielded nearly $8 million, demonstrating crypto's tremendous volatility.

The SHIB community and cryptocurrency market felt this sell-off. SHIB's stock rose 0.21% in 24 hours, although sentiment softened.

Trade volume fell 32.27% to $550.84 million, showing a sharp drop in investor interest and market activity. CoinGlass, a major crypto analytics tool, revealed a 1.51% drop in SHIB's open interest, suggesting a trading strategy adjustment during market turmoil.

As SHIB speculation grows, all eyes are on the 11 wallets holding the acquired DAI. Everyone wonders what the seller will do next and which tokens they will focus on. This major market player's unknown future actions demonstrate the crypto market's volatility and the necessity for investors to be cautious.

The SHIB market cap is $16.9 billion. TradingView.com chart

After this massive sell-off, market players are coping with its effects. The sell-off highlights cryptocurrency's tremendous volatility and the potential for rapid and large profits or losses.

Shiba Inu Recovers

Shiba Inu has overcome difficulties and made steady progress despite recent swings. Since its March 20 low of $0.000024, SHIB has risen to $0.00003050. SHIB's resilience shows its capacity to overcome challenges and grow.

Shiba Inu is undergoing a big correction, and buyers are struggling to regain control. Even after briefly breaking the long-term resistance trendline, SHIB falls below $0.000010. The double-bottom pattern continues, but sellers remain in charge. The trendline struggle will likely determine SHIB's price trend in 2024.

Analysts and investors are eagerly following this major sell-off.

#Memecoins #WIF

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