Shiba Inu coin news: The real reason Shib coin crashed – Deseret News
https://ift.tt/HzA8O05
A single whale may have spooked plenty of Shiba Inu coin investors.
Illustration by Alex Cochran, Deseret News
A single whale investor in Shiba Inu coin might have spooked plenty of people from keeping their investments in the meme cryptocurrency.
Per Forbes, a single Shiba Inu whale investor — someone who purchases a lot of a single item, increasing the rarity and driving up the price — moved about $3 billion worth of Shiba Inu tokens from its original wallet, which sparked concern that some larger Shiba Inu holders would cash out.
So what does this mean? According to Forbes, the move might spook some Shiba Inu coin holders.
This fits with what I wrote about Shiba Inu coin earlier this week. Per Benzinga, Shib coin saw a massive crash “as investors anticipated moves by whales to liquidate their holdings by sending coins to exchanges.”
The Shiba Inu community was slightly upset by the news from Kraken, a cryptocurrency example platform that said it would not add Shiba Inu coin to its platform yet because it’s still going through a review process, as I wrote for the Deseret News.
By signing up, you agree to our Privacy Notice and European users agree to the data transfer policy.
Copyright © 2022 Deseret News Publishing Company. All Rights Reserved
Tech
via Inferse.com https://www.inferse.com
August 1, 2022 at 03:24AM