**SHIB Market Activity Unveiled: Whale Withdraws 350B Tokens, Profits Soar**

Jun 20, 2024

Metablox NFT save memories to the blockchain


Everyday we create memories that are attached to places, but how will future generations know what happened to us? 

Metablox is saving our most important memories on the blockchain, and you can own the real world places the memories happened.


Summary of Recent SHIB Market Activity


A major investor withdrew 350 billion SHIB tokens from the market, resulting in profits of $6.12 million. SHIB’s price surged by 5.45% during this period.


In the midst of a volatile cryptocurrency market, Shiba Inu (SHIB) has been navigating a challenging phase. Notably, a significant event unfolded as a major whale removed a substantial amount of SHIB tokens from Binance, totaling 353.83 billion SHIB, equating to around $6.6 million in value and $6.12 million in profits.

Main Points

As SHIB’s price saw a 5.45% uptick, reaching $0.00001864 with a market capitalization of about $10.98 billion, the daily trading volume for SHIB plummeted by over 38% to $282 million. Analysts are debating whether the recent market dip is a necessary correction in major cryptocurrencies or a transient adjustment. The memecoin sector, including SHIB, exhibited weakness, with a 30-day relative strength index signaling a decline of 25.52%.


The issuance of new memecoins by prominent figures has slowed down, hinting at shifting market dynamics and changing investor sentiments towards speculative assets like SHIB. This recent withdrawal by a major investor and the subsequent price movement underscore the ongoing fluctuations and uncertainties in the cryptocurrency space.