Shiba Inu Price faces mounting pressure as market corrections continue to impact its performance. The popular meme-based coin has experienced volatility over the past month. Recent trends show a downward trajectory, reflecting broader market conditions. Meanwhile, a significant whale transaction has sparked concern after offloading 2.1 trillion SHIB, raising questions about its future price direction.
Will Shiba Inu Price Dip Or Soar As Whale Transact 2.1T
Shiba Inu may become more volatile after a whale exchanged 2.1 trillion SHIB tokens to Coinbase. The deal reached $32.55 million with a revenue of $1.63 million after completion. Four SHIB wallets were identified as sources that seem to belong to a single controlling entity based on the data. The wallets maintained possession of SHIB tokens throughout three years between September 2021 and July 2024 while spending $30.91 million on acquisition.
The sudden movement of such a large SHIB supply raises questions about market impact. While some investors view whale sell-offs as bearish, others see them as liquidity boosts for future price action. Data from Nansen highlights the transactions, showing the deposits into Coinbase. Market participants are now watching for further movements from these addresses to gauge potential price shifts.
4 wallets, likely belonging to a single entity, combined deposited 2.119T $SHIB worth $32.55M into #Coinbase, making a profit of $1.63M
These 4 wallets accumulated the $SHIB over the last 3 years, from 17 Sept 2021 to 19 July 2024, for $30.91M.
Addresses:
— Onchain Lens (@OnchainLens) February 19, 2025
Shiba Burn Rate Surges Over 795%
Shiba Inu burn rate saw a significant surge. Over the past 24 hours, 15.39 million SHIB tokens were destroyed, marking a 795% increase. Over the past week, a total of 80.2 million tokens were burned, reflecting a 33.09% rise.
With a total supply of 589.25 trillion tokens, the impact of the burn mechanism remains a key focus for the community.
HOURLY SHIB UPDATE$SHIB Price: $0.0000154 (1hr -0.26% ▼ | 24hr -0.30% ▼ )
Market Cap: $9,076,039,424 (-0.29% ▼)
Total Supply: 589,255,502,468,096TOKENS BURNT
Past 24Hrs: 15,399,400 (795.3% ▲)
Past 7 Days: 80,209,230 (33.09% ▲)— Shibburn (@shibburn) February 19, 2025
Shiba Inu Price Analysis
The latest SHIB price is at $0.00001541, marking a 0.45% decline in the past four hours. The asset remains under pressure as it hovers near the lower support range.
The Relative Strength Index (RSI)on the 4-hour chart is at 41, showing neutral trend.
The MACD indicator remains in bearish territory. The signal line trending above the MACD line. The signal line trending above the MACD line.
A price surpassing $0.000016 should stimulate further market purchases. Market analysts expect Shiba Inu price prediction to experience a breakout from $0.000018 which might shift the price pattern toward $0.00002. The prices need to sustain above $0.000014 to remain stable. A drop beneath the current price level might push prices toward reaching $0.00001.
To conclude, the Shiba Inu price remains at a critical point as whale transactions and burn activity shape its trajectory. Investors await further market cues to determine whether SHIB will dip or surge.
The post Shiba Inu Price Crash or Pump? Whale Offloads 2.1T SHIB appeared first on CoinGape.
