Similar to the events of 2020, the big whales that dumped over 210 billion Shiba Inu (SHIB) the second largest memecoin has impacted its price with a 3% deposit in the last 24 hours at the $0.00000781 zone.
In fact, the price of SHIB still made another 6% decline to break through the support level even though the decision of the Federal Reserve (Fed) at the latest meeting for interest rates saw a slight decrease.
Through observation, whales reportedly transferred 207.2 billion SHIB worth $1.9 million to crypto exchange company Binance and then sold around 4 billion memecoins in the past 7 days, making the total sales in December 210 billion.
Whales were also found to have bought 3.49 trillion SHIB worth $2,233 in Ethereum (ETH) through Uniswap in 2020 using two different addresses, namely "0x5952" and "0x92f2".
Meanwhile, whales who intend to make a profit are also reported to have frequently sold 2.4 trillion SHIB since April 13, 2021 immediately after making their last purchase on February 9, 2021.
This follows because they were able to get around $18.3 million and still hold over 546 billion SHIB worth $4.86 million after the sale.
It should also be noted that SHIB investors should examine the movement of whales in order to anticipate future price declines.
