Here’s Why Shiba Inu Whales Have Been Dumping Their Bags
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Data from the market intelligence platform IntoTheBlock reveals that Shiba Inu whales have significantly reduced their holdings over the last 30 days. The dumping of Shiba Inu by these large holders is likely driven by the recent unimpressive price action of the meme coin.
Shiba Inu, despite its popularity, has not performed well in recent times. This lackluster performance has prompted major holders, or whales, to offload their positions.
The data suggests that this trend of selling could continue if the coin's price does not show significant improvement, impacting the overall market sentiment around Shiba Inu.
Source: bitcoinist.com ↗
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