Half Trillion Shiba Inu (SHIB) Outflows as Shibarium Faces Uncertainty

U.Today
U.Today

28 Jun 2023 1:02 PM

Large holders of Shiba Inu token dump half trillion SHIB in epic exodus...

  • IntoTheBlock has observed alarming activity in the on-chain data of Shiba Inu (SHIB), with significant outflows from the wallets of large investors.
  • One trillion SHIB have exited the wallets of large investors since Monday, surpassing the inflow of 745 billion tokens.
  • The netflow of Shiba Inu whales' wallets in the past seven days reached -377.35 billion SHIB, indicating a significant drop in token holdings.
  • Possible reasons for this behavior include uncertainty surrounding the progress of Shibarium's release on the main network and the token's failure to overcome a critical resistance level.

The sentiment around Shiba Inu has turned bearish as large investors have been reducing their positions in the token. Uncertainty surrounding Shibarium's release and the token's failure to overcome a critical resistance level have contributed to this sentiment.

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What has been observed by IntoTheBlock regarding Shiba Inu's on-chain data?How much SHIB has exited the wallets of large investors since Monday?What are the possible reasons for the outflows from the wallets of large SHIB holders?Why has the sentiment around Shiba Inu turned bearish?

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