By Harry - Crypto Consultant - 04-11-2021
2021 has been a very exciting year for the Dogecoin (DOGE) Killer - Shiba Inu (SHIB). Since September 2020, the price to buy SHIB has risen exponentially to well over 2,000,000%. However, in recent news, Shiba Inu investors are wondering why SHIB has seen a sudden price drop. Reportedly, the fall in price to buy altcoin SHIB is due to a crypto whale sending large SHIB transactions to four separate wallets.
A series of transactions has been witnessed by crypto whale watchers just before SHIB drops by 11% in price. According to sources, the whale had sent four separate Shiba Inu transactions with a total value of 10,000,000,100,000 SHIB. Each transaction, valued at $586 million with a total of $2.3 billion went to different wallets. Many analysts believe that there is a high chance that the wallet’s owner may have forgotten or misplaced their key. Despite the knowledge that a crypto whale is currently holding billions of dollars’ worth of SHIB, the price for the coin has still dropped; this may be because there is a lot of speculation that the whale will be selling the entirety of its SHIB stash. Since the whale holds such a large supply of the altcoin, whatever the whale does will greatly affect the value of the coin. Furthermore, one analyst pointed out that if the significant investor sold all of its stock, it would send SHIB to plunge as much as -99.99% to zero.