Over past few days, largest ETH whales have dumped $7 million worth of Shiba Inu (SHIB)


According to WhaleStats, a crypto wallet tracker, the amount of Shiba Inu (SHIB) held by the top 100 whales on Ethereum has dropped significantly over the last few days, shedding roughly $7 million. This USD can purchase 628 billion SHIB canine coins at the current exchange rate. Meanwhile, Shiba Inu has joined the top ten assets with the highest trading volume.

Whales Sold 682 Billion Shiba Inu (SHIB), But They Might Regret This Now

The WhaleStats team has shared that over the past few days, the supply of Shiba Inu meme tokens held by the 100 biggest investors on the Ethereum chain has dropped by roughly $7 million, going down from $134 million to a total of $126,805,312 at the time of this writing. This constitutes 5.12% of their portfolios.

The sale was made gradually as the second largest meme coin was gradually going down in price, leaving behind the $0.00001119 level on Friday, Oct. 7. On Oct. 11, SHIB plunged more than 6% within an hour, printing a massive red candle on charts. Thus, the whales managed to lock in their gains before the price went down abruptly.

Elon Musk, CEO of Tesla and SpaceX, and billionaire, previously announced the debut of his first perfume created by The Boring Company, which digs tunnels underground to relieve high traffic on ordinary roadways in the United States. The perfume is dubbed “Burnt Hair,” and Elon Musk’s Twitter bio has been reduced to a single line: “Perfume Salesman.” More than 10,000 bottles of it, each for $104, have already been sold. Musk stated that entering the perfume industry was only a question of time and that he should not have waited so long.

The Tesla CEO stated on Twitter that the perfume may be purchased for DOGE. Furthermore, the payments page demonstrates that this is not the only crypto option accessible. Because this is done through BitPay, SHIB, Bitcoin, and other digital currencies are all accepted. They will be converted to fiat currency, and The Boring Company will get USD. One user tagged Musk in a tweet, alleging that he could not complete a transaction with Dogecoin to purchase Elon Musk’s “Burnt Hair.”

The @inevitable360, who is a Dogecoin developer, tweeted that he has faced what might be an error in this payment option.

The SHIB price has not been affected by this major news, and neither was that of DOGE, as it rose by merely 0.38%, per CoinMarketCap.

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