Recent data indicates that Shiba Inu (SHIB) whales may be behind the recent price drop, raising concerns about its blue-chip status. Despite this, some traders remain optimistic about Shiba Inu’s future potential.<\/p>\n
IntoTheBlock reported a surge of over 400% in large Shiba Inu transactions, valued at $100,000 or more, amidst a market downturn. Typically seen as positive, this activity could signal either accumulation or selling off of tokens by these whales, potentially influencing the coin’s price.<\/p>\n
Further data analysis suggests that whales are indeed selling off their SHIB holdings, evident from a decreased token balance in wallets containing 0.1% of Shiba Inu’s supply. This move to exchanges to mitigate losses has added downward pressure on SHIB’s price, now below a crucial resistance level.<\/p>\n
The market cap of Shiba Inu has suffered as it slipped in rankings to become the twelfth largest cryptocurrency by market cap, losing ground to Tron.<\/p>\n
Analyst Vapor believes that Shiba Inu maintains significance in the altcoin market and will not lose its blue-chip status. Vapor anticipates a strong performance from SHIB in the upcoming market cycle, positioning it well for potential gains during the meme supercycle.<\/p>\n
Backing his optimism, Vapor highlights the advantages of blue-chip meme coins like Shiba Inu, making them favorable choices for future altcoin seasons. He predicts that Shiba Inu’s presence on tier-1 exchanges will attract retail investors, aligning with the trend seen in 2021.<\/p>\n","protected":false},"excerpt":{"rendered":"
Recent data indicates that Shiba Inu (SHIB) whales may be behind the recent price drop, raising concerns about its blue-chip status. Despite this, some traders remain optimistic about Shiba Inu’s future potential. Rise in Large SHIB Transactions Amid Market Decline IntoTheBlock reported a surge of over 400% in large Shiba Inu transactions, valued at $100,000 […]<\/p>\n","protected":false},"author":1,"featured_media":14497,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"slim_seo":{"title":"Shiba Inu Whales Offload Tokens Impacting Market, SHIB's Status in Question - Bitrabo","description":"Recent data indicates that Shiba Inu (SHIB) whales may be behind the recent price drop, raising concerns about its blue-chip status. Despite this, some traders"},"footnotes":""},"categories":[316],"tags":[5351,5353,5352,504,5350,585,456,1209,4839,1032,584,3358,819,457],"class_list":["post-14496","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","tag-blue","tag-blue-chip-status","tag-chip","tag-crypto","tag-droves","tag-inu","tag-maintain","tag-sell","tag-sell-off","tag-shib","tag-shiba","tag-shiba-inu","tag-status","tag-whales"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/14496","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=14496"}],"version-history":[{"count":0,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/14496\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media\/14497"}],"wp:attachment":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media?parent=14496"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/categories?post=14496"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/tags?post=14496"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}