{"id":11731,"date":"2024-05-15T19:09:24","date_gmt":"2024-05-15T19:09:24","guid":{"rendered":"https:\/\/www.bitrabo.com\/discover\/crypto-giant-offloads-shiba-inu-worth-4-5-million-amid-market-slowdown\/"},"modified":"2024-05-15T19:13:00","modified_gmt":"2024-05-15T19:13:00","slug":"crypto-company-sells-4-5-million-in-shiba-inu-tokens-during-market-downturn","status":"publish","type":"post","link":"https:\/\/www.bitrabo.com\/discover\/crypto-company-sells-4-5-million-in-shiba-inu-tokens-during-market-downturn\/","title":{"rendered":"Crypto Company Sells $4.5 Million in Shiba Inu Tokens During Market Downturn"},"content":{"rendered":"\n<p>An institutional digital asset trading firm, Cumberland, has recently transferred a significant amount of Shiba Inu (SHIB) tokens, totaling around $4.5 million, to various cryptocurrency exchanges like Coinbase and OKX. This move comes amidst a slowdown in the SHIB market.<\/p>\n<h2>Cumberland Moves Majority of Shiba Inu Tokens<\/h2>\n<p>Within a 24-hour period, Cumberland executed substantial transfers involving over 210 billion SHIB tokens, as per data from The Data Nerd. Most notably, around 144 billion SHIB, valued at approximately $3.46 million, was sent to Coinbase. Another transfer of 50.36 billion SHIB worth $1.17 million was sent to OKX, along with 1.69 billion SHIB ($45,000) to an undisclosed destination. These transactions have significantly reduced Cumberland&#8217;s SHIB holdings to about 2 billion tokens, valued around $48,642.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">6 hours ago, #Cumberland just deposited 144B $SHIB (~$3.3M) to #Coinbase.<\/p>\n<p>10 hours ago, they deposited 50.36B $SHIB (~$1.17M) to #OKX.<\/p>\n<p>Just now, they have 1.69B $SHIB (~$45k).<\/p>\n<p>Address: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/UoeueKsrA5\">pic.twitter.com\/UoeueKsrA5<\/a><\/p>\n<p>&mdash; The Data Nerd (@OnchainDataNerd) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/OnchainDataNerd\/status\/1790642411775176955?ref_src=twsrc%5Etfw\">May 15, 2024<\/a><\/p>\n<\/blockquote>\n<p>Cumberland has been showing a trend of more withdrawals than deposits, especially concerning SHIB tokens, in recent days.<\/p>\n<p>The timing of these transactions coincides with a period of stabilization in the broader SHIB market. SHIB&#8217;s price has been consolidating within a narrow range after a downward breakout from a bull pennant pattern in mid-April. The current sideways movement suggests indecision in the market.<\/p>\n<p>Market analysts consider significant whale transfers to exchanges as bearish signals, signaling potential selling pressure. The reasons behind Cumberland&#8217;s strategy are unknown, but the scale and choice of exchanges are closely watched by observers.<\/p>\n<p>These recent events have sparked various speculations about SHIB&#8217;s future price movements, given its lackluster performance in the crypto market.<\/p>\n<p>Currently, the Shiba Inu price is positioned between the 100-day EMA at $0.00002211 and the 50-day EMA at $0.00002408. A daily close above or below these averages will likely influence SHIB&#8217;s short-term price direction.<\/p>\n<p>If this occurs, attention will shift to the trading range with resistance at $0.00002750 and support at $0.00002058, crucial levels for SHIB&#8217;s market activity.<\/p>\n<p>At the moment, SHIB is trading at $0.00002404.<\/p>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>An institutional digital asset trading firm, Cumberland, has recently transferred a significant amount of Shiba Inu (SHIB) tokens, totaling around $4.5 million, to various cryptocurrency exchanges like Coinbase and OKX. This move comes amidst a slowdown in the SHIB market. Cumberland Moves Majority of Shiba Inu Tokens Within a 24-hour period, Cumberland executed substantial transfers [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":11732,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"slim_seo":{"title":"Crypto Company Sells $4.5 Million in Shiba Inu Tokens During Market Downturn - Bitrabo","description":"An institutional digital asset trading firm, Cumberland, has recently transferred a significant amount of Shiba Inu (SHIB) tokens, totaling around $4.5 million,"},"_slim_seo_primary_term_category":0,"_slim_seo_primary_term_post_tag":0,"footnotes":""},"categories":[316],"tags":[504,945,585,496,561,4132,584,4133,1244],"class_list":["post-11731","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","tag-crypto","tag-giant","tag-inu","tag-market","tag-million","tag-offloads","tag-shiba","tag-slowdown","tag-worth"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/11731","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/comments?post=11731"}],"version-history":[{"count":0,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/11731\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media\/11732"}],"wp:attachment":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media?parent=11731"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/categories?post=11731"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/tags?post=11731"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}