Following a series of transactions carried out by the wallet of the whale which made $ 1.55 billion against a $ 3,400 investment last August, the price of the criptovaluta Shiba Inu it fell by 11%. On November 2, in fact, the whale moved more than 10,000 billion Shiba Inu in four separate wallets, each transaction amounting to about 586 million dollars, for a total of about 2.3 billion dollars.
Shiba Inu: Cryptocurrency is in trouble
Given the lack of wallet activity since last year, social media users believed that the owner of the private keys no longer had access to the funds. The awakening of the “whale”, however, undeniably aroused some fear in the community: liquidating such a large percentage of the supply could potentially induce a massive price collapse.
The movements by the billionaire wallet triggered downward pressure on the price, dropping 31.2% from its all-time high seven days ago and 10.8% in the past 24 hours, according to data from CoinGecko. It is not clear at this point what the future of cryptocurrency is.