Shiba Inu Price Falls as Whale Transfers Over 210 Billion Tokens

The Shiba Inu price recently dropped to $0.000007683 due to significant selling pressure from a whale transferring billions of SHIB tokens, raising concerns of a sell-off.

Reasons for Price Drop

A SHIB whale moved 210.365 billion tokens, worth $1.63 million, to Robinhood, constituting 97% of their holdings.
Additional transfers included 1.52 billion tokens to Robinhood and 7 billion to B2C2 Group, possibly an OTC sale.
The market-wide sell-off, led by Bitcoin dropping to $87,000 amid US-Europe trade tensions, also impacted the price.
Despite the crash, SHIB remains up over 15% YTD but significantly below its ATH of $0.00008845.

Exchange Netflows

SHIB's exchange netflows are mixed with negative net flows today, suggesting more inflows than outflows.
Positive netflows of 1.6 billion tokens were observed yesterday, indicating potential whale accumulation.
January 16 saw positive netflows of 115 billion tokens, overshadowed by January 20's negative 214 billion SHIB.

Shiba Inu

CoinGlass data shows traders remain optimistic with a long/short ratio above 1 and derivatives trading volume up by over 20%, alongside a nearly 3% increase in open interest.

Currently, Shiba Inu is trading around $0.000007978, showing a slight increase in the last 24 hours according to CoinMarketCap.