Whales Dump Billions of Shiba Inu Worth Around $5.1 Million

• Whale addresses have transacted more than 443 billion Shiba Inu coins.
• Information gleaned from Coinglass indicates that 318.3 billion Shiba Inu coins were sold.

On Thursday, the Shiba Inu (SHIB) price rise that had been supported by the Shibarium update and the purchase of Ethereum (ETH) whales had reached a new low. Nearly the last day, the value of the second-largest meme crypto in the world has decreased by over 9 percent. A large whale transaction was detected by the whale tracker just after the major SHIB price pump, which may explain the subsequent price decline.

According to the information provided by WhaleAlert, whale addresses have transacted more than 443 billion Shiba Inu coins (about worth $5.1 million.) in a single transaction. A deposit of SHIB tokens into the OKEx cryptocurrency exchange was recorded in this transaction.

Still Most Held Token Among ETH Whales

After that, the price of Shiba Inu has gone down steadily over the previous day. Information gleaned from Coinglass indicates that 318.3 billion Shiba Inu coins were sold on the cryptocurrency market in the preceding 24 hours, generating a total of around $3.55 million in value.

However, in the previous 24 hours, the entire value of the crypto market’s sales has exceeded $239 million. More than 56,725 market participants have completely cashed out. However, there was one liquidation order for $3.23 million that was the largest ever.

Research suggests that Ethereum’s “whale” investors are also selling up their Shiba Inu coins. On Wednesday, the top 100 ETH “whales,” had almost $616 million worth of SHIB.

The current value of the portfolio is around $598.7 million, down from its previous high. Shiba Inu has made it into the top 10 tokens sold by the biggest ETH whales. Despite this, SHIB is the most-held token among ETH “whales.”