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Ethereum whales have dumped mind-blowing amount of meme coins over past four days
Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.
Data shared by WhaleStats wallet tracker focused on various chains, including Ethereum, Polygon and BNB Chain, shows that over the past four days, the 100 largest whales on ETH got rid of $14.9 million worth of Shiba Inu canine coins.
Whales sell 1.38 trillion SHIB
WhaleStats shows that at press time the amount of Shiba Inu held by the 100 largest wallets that hold ETH-based tokens contain $125,152,623 worth of Shiba Inu, with this meme coin comprising 4.75% of these whales’ portfolio.
Four days ago, as covered by U.Today, the wallets held $140,908,143. The difference with the current equivalent of Shiba Inu totals $14.9 million.
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SHIB price action that drove sale
On Sept. 18, Shiba Inu demonstrated a sudden plunge within one hour, printing a massive red candle and falling roughly 6% to $0.00001053. Since then, SHIB has attempted to rise but failed to hold at the $0.00001106 level.
The whales sold their last portion of SHIB – $4.7 million worth of it – after the second largest meme crypto rose 2.32% before going down again.
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