Altcoins

Shiba Inu Holders Dump 1 Trillion SHIB Tokens! Here Is Why?

Written by: Delma Wilson

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Delma Wilson

Delma is a B2B Content Marketer, Consultant, Blogger in the field of Blockchain, and Cryptocurrency. In her spare time, she loves to blog, play badminton and watch out ted talks. She likes pets and shares her free time with NGO.

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Jun 9, 2022

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Investors abandoning a large portion of supply in just one shot looks quite terrifying for any cryptocurrency. However, this is not the same with Shiba Inu.

The meme currency has a circulation of over 400 trillion. SHIB has gained fame as a victim of its own investors. And they may follow the trend now as well.

SHIB Holders To Sell The Tokens ?

SHIB holders are well-known for accumulating the tokens when the Shiba Inu price drops. But whenever the Shiba Inu price surge they immediately start selling.

All of this has been noticed earlier also. And, with SHIB at its lowest in 8 months, every increase from now should be viewed as a chance to book gains. Knowing how eager SHIB holders are for the profit, they will not refuse to abandon the token.

Since SHIB fell by 64.3% in the past two months, investors have acquired around 1.02 trillion SHIB worth $10.6 million. All this acquisition is with a desire to sell the SHIB tokens once it starts its bullish rally

SHIB’s instability often allows the cryptocurrency to see dramatic jumps and deep losses each day. Unfortunately, all signs currently lead towards a decreasing price. This is because the rally lost momentum days ago, giving more power to the bears.

Shiba Inu suffered its worst single-day loss in more than a year on May 31. It was the same when 3.71 trillion SHIB were invested in losses in transactions.

This has considerably discouraged investors from joining on-chain. It has created a problem for SHIB because it certainly needs its investors.

Shiba Inu Transactions See A Drastic Fall

SHIB holders’ participation started to dwindle when the price began to plummet following the May ATH. As a result, the number of transactions has decreased dramatically. At the time of writing, transactions had dropped from an average of around 70k to barely 4.5k.

As a result, the investors have lost commitment to Shiba Inu’s development. Hence, it is quite possible that the purchased 1 trillion SHIB will be sold. Particularly given it represents less than 0.25% of the total supply.

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Delma Wilson

Delma is a B2B Content Marketer, Consultant, Blogger in the field of Blockchain, and Cryptocurrency. In her spare time, she loves to blog, play badminton and watch out ted talks. She likes pets and shares her free time with NGO.

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