Large Shiba Inu Withdrawals Shake Crypto Market, Where Are They Headed?

While many crypto experienced double-digit gains last week, Shiba Inu’s (SHIB) performance paled in comparison. Although this performance is projected to positively change in the coming months, investors are increasingly diversifying their portfolios. ETFSwap (ETFS) is a novel DeFi cryptocurrency that has captured investors’ attention, exhibiting exceptional growth a few months into its presale. 

Shiba Inu (SHIB): Experience Large Whale Activity Amidst Market Uncertainty

According to CoinMarketCap, Shiba Inu’s price has increased by over 3% in the past week, trading at $0.00001797 with a market capitalization exceeding $10.5 billion, making it the 13th largest crypto by market cap. However, this situation may change soon as LUCIE, a well-known X handle that shares updates about Shiba Inu’s ecosystem, tweeted about a significant development. As per the tweet, 2.7 billion SHIB, which were worth $48,343,500 at the time, were transferred from Robinhood to an unknown wallet. 

This development indicated that a whale bought a substantial number of Shiba Inu tokens, hinting at a possible price rise in the coming days. The analysis goes through Shiba Inu’s supply held by top addresses increased last week, meaning that whales were actively stockpiling Shiba Inu tokens. However, the rest of the metrics revealed that selling pressure dominated the market. For example, Shiba Inu’s supply in exchanges increased sharply while its supply outside of exchanges dropped. 

Additionally, exchange inflows for Shiba Inu spiked, reinforcing the notion that investors were selling their holdings. Generally, an increase in selling pressure leads to price corrections. Other metrics also suggested a similar outcome, such as the meme coin’s NVT ratio rising, indicating that the token might be overvalued and susceptible to a price correction. The MVRV ratio also declined over the past week. Nevertheless, Shiba Inu’s network growth remained robust, with more new addresses being created to facilitate token transfers.

ETFSwap (ETFS): A Better Crypto Investment Platform Over Shiba Inu

Amidst the ongoing uncertainty surrounding Shiba Inu, many investors are seeking safer investment alternatives with high-profit potential. ETFSwap (ETFS) has emerged as a secure platform for investors to explore the tokenized crypto ETF market and capitalize on the opportunities within this landscape.

As a decentralized platform, ETFSwap (ETFS) offers investors access to a diverse range of tokenized institutional ETFs backed by real-world assets providing a secure, transparent, and efficient trading environment. These ETFs include commodity, leveraged, equity, crypto ETFs and various other lucrative investment assets across various industries. 

When trading ETFs on its platform, ETFSwap (ETFS) empowers users with cutting-edge trading solutions and customizable strategies to streamline their trades and potentially maximize profits. The platform employs sophisticated AI algorithms to analyze market trends and historical data, offering users the best ETF recommendations. The platform also offers flexible trading options, allowing users to enter and exit positions at their discretion. 

 At the same time, it increases their market exposure with smaller capital investments. 

Unlike the traditional crypto platforms in the market, ETFSwap (ETFS) incorporates blockchain technology to facilitate decentralized transactions, providing anonymity and transparency for users. The platform’s smart contracts have been thoroughly audited by CyberScope, and its team has successfully passed the KYC verification process conducted by Solidproof, a smart contract security audit firm.

At the core of ETFSwap’s innovative platform is its native token, ETFS, which is based on the Ethereum blockchain and facilitates transactions and tokenized ETF trading. By investing in the ETFS token, investors have access to optimal liquidity and staking rewards when they stake the token. To take advantage of additional investment and trading perks, investors are encouraged to purchase ETFS tokens during the ongoing presale.

Conclusion

While Shiba Inu (ETFS) is projected to experience substantial long-term price growth, ETFSwap (ETFS) is poised to deliver up to 40000% returns within the coming months, particularly following its major exchange listing. Early investors are encouraged to seize the opportunity to acquire tokens at the current discounted price of $0.01831 before the price increases to $0.03846 in the upcoming presale stage.