1.1 Trillion Sheep Sold as ETH Whales Ditched Memes by CoinEdition

1.1 trillion chips sold by ETH whale dumping meme
  • ETH whales have sold a surprising amount in the last 3 days.
  • Shrinking SHIB lair held by senior ETH whales.
  • Despite the meme coin being green for the day, it is still down more than 8% over the past week.

According to data shared by WhaleStats, ETH whales have sold an impressive amount of Shiba Inu (SHIB) over the past three days.

According to information provided by WhaleStats, the largest whale in the chain (ETH) has minted more than 1.1 trillion Shiba Inu tokens. One transaction carried nearly 61 billion meme tokens to cryptocurrency exchange Binance.

In addition, WhaleStats also revealed that since September 14 of this year, the SHIB stock held by the best ETH whales has shrunk from $152 million to $140 million.

The amount of SHIB denominated in this US dollar amount equals a staggering 1,115,879,828,326 coins.

It seems the whales are dumping the meme coin in an attempt to get rid of it because the price of SHIB has been low lately.

SHIB/USDT daily chart (Source: CoinMarketCap)

According to market tracking website CoinMarketCap, SHIB is currently trading at $0.0000119 after a 1.35% price increase and after reaching a high of $0.0001198 over the same time period. Despite the meme coin being green for the day, it is still down more than 8% over the past week.

SHIB is currently the 12th largest cryptocurrency by market capitalization with a market capitalization of $6,522,591,988. This puts SHIB directly behind DAI in 13th and in front of TRON in 15th. SHIB’s 24-hour trading volume is down more than 21% and now stands at $174,688,929.

Disclaimer: Opinions and opinions, as well as all information shared in this price analysis, are published in good faith. Readers should do their own research and due diligence. Any action the reader takes is at his or her own risk. Coin Edition and its affiliates will not be liable for any direct or indirect damage or loss.

The post of the 1.1 trillion chip sold as ETH whale dump of Meme Coin first appeared in the Coin issue.

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