• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Shiba Inu Drops 10% Following Whale Transfer of 4 Trillion Tokens

user avatar

by Giorgi Kostiuk

a year ago

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.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Bitcoin Threatens to Break Previous Monthly Cycle High

chest

Bitcoin is nearing a critical point where it may break the previous monthly cycle high of 61,359, a first in its history.

user avatarAndrew Smith

Taylor Lindman Appointed as Chief Counsel of SEC Crypto Task Force

chest

Taylor Lindman has been appointed as the new Chief Counsel of the SEC's Crypto Task Force, focusing on compliance and legal guidance for digital assets.

user avatarJacob Williams

Potential Changes in Bitcoin Derivatives Markets Following CLARITY Act

chest

Market expert MartyParty highlights that the CLARITY Act could lead to significant changes in Bitcoin derivatives markets, enhancing CFTC authority and encouraging institutional participation.

user avatarZainab Kamara

Crypto Investment Funds Face Continued Outflows Amid Market Slowdown

chest

Crypto investment funds have faced a fifth consecutive week of net outflows, totaling approximately $4 billion over five weeks, with a significant decline in trading activity.

user avatarAyman Ben Youssef

Blockchain Association Unveils New Tax Principles for Digital Assets

chest

The Blockchain Association has introduced a framework to guide lawmakers on digital asset taxation as discussions around the CLARITY Act continue.

user avatarSon Min-ho

Market Leverage Ratio Declines, Indicating Reduced Speculative Positioning

chest

The Estimated Leverage Ratio in the crypto derivatives market has sharply declined, suggesting a reduction in speculative positioning and a calmer market environment.

user avatarTando Nkube

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.