The meme coin Shiba Inu (SHIB) has experienced a significant decline of over 10% in the past 24 hours, reaching $0.00002326. This occurred amid several major events, including a whale's transfer of 4 trillion tokens and the Federal Reserve's announcement about the economy.
Shiba Inu Price Decline
The price of the meme coin Shiba Inu has fallen by more than 10% in the past day and is now $0.00002326. While SHIB showed gains during the market rally, its upward trend seems to be slowing.
Massive Whale Transaction
Whale Alert reported a transfer of 4 trillion SHIB tokens from one unknown wallet to another. The transaction fee was only $8.10 in Ethereum.
Fed's Announcement and Impact
The Federal Reserve stated that the US economy is doing well and that future rate cuts will be approached with caution. This statement has also pressured the cryptocurrency market, including Shiba Inu.
The decline of Shiba Inu's price and the massive token transfer by a whale occurred amidst the Federal Reserve's announcement, significantly impacting SHIB's upward trend and resulting in a price drop.
