Assessing if we’ll see Shiba Inu investors dump 1 trillion SHIB 

Please fol­low and like us:
Pin Share

The thought of investors dump­ing such a huge chunk of the sup­ply in one go would be scary for any cryp­tocur­ren­cy. Not Shi­ba Inu, however. 

The meme coin with a sup­ply of more than 400 tril­lion SHIB has estab­lished its rep­u­ta­tion for being a vic­tim of its own investors. And, they might con­tin­ue to uphold the tra­di­tion this time as well.

Shiba Inu faces a threat

SHIB hold­ers are known for accu­mu­lat­ing when the price is low and sell­ing as soon as the alt­coin runs up a profit. 

This has been observed in the past as well. And, now that SHIB is at its low­est in 8 months, any hike from here on will be treat­ed as an oppor­tu­ni­ty for book­ing prof­its. And know­ing SHIB hold­ers to be prof­it-hun­gry, they won’t hes­i­tate to leave the token high and dry.

Shi­ba Inu price action | Source: Trad­ingView – AMBCrypto

Over the last two months, since SHIB declined by 64.3%, investors have amassed about 1.02 tril­lion SHIB worth $10.6 mil­lion. All in the hopes of sell­ing when the meme coin starts ral­ly­ing again.

Shi­ba Inu sup­ply on exchanges | Source: Cryp­to­Quant- AMBCrypto

Usu­al­ly, SHIB’s volatil­i­ty helps the cryp­tocur­ren­cy observe sharp spikes and steep drops every oth­er day. Alas, at the moment, all indi­ca­tors point towards a grad­ual depre­ci­a­tion in price as the uptrend lost its strength days ago, giv­ing con­trol to the bears.

The impact has been such that on 31 May, Shi­ba Inu reg­is­tered the high­est sin­gle-day loss­es in more than a year. This was when 3.71 tril­lion SHIB were involved in trans­ac­tions con­duct­ed in losses. 

Shi­ba Inu sup­ply in loss­es | Source: San­ti­ment – AMBCrypto

This fur­ther demo­ti­vat­ed investors from par­tic­i­pat­ing on-chain, which is an issue for SHIB since it sin­cere­ly needs its investors. 

After the price began falling fol­low­ing the May ATH, SHIB hold­ers’ pres­ence began wan­ing. As a result, the trans­ac­tions con­duct­ed also fell sig­nif­i­cant­ly. From an aver­age of almost 70k, the trans­ac­tions fell to just 4.5k, at the time of writing.

Shi­ba Inu on-chain trans­ac­tions | Source: Cryp­to­Quant- AMBCrypto

Ergo, giv­en the investors’ lack of ded­i­ca­tion towards Shi­ba Inu’s growth, it is very like­ly they will sell the acquired 1 tril­lion SHIB. Espe­cial­ly since it any­ways accounts for less than 0.25% of the entire supply.

Source link

Please fol­low and like us:
Pin Share

Leave a Reply

Your email address will not be published. Required fields are marked *