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Gemini moved 182 billion SHIB, a similar move in the past caused a 7% drop in Shiba Inu prices: Details

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Lookonchain smart investing Two significant SHIB transactions that transported almost 200 million meme tokens to be sold on cryptocurrency exchanges were seen earlier today by crypto tracker. The Twitter handle issues a warning that since this has already occurred, there may be a minor risk that the price may drop following this.


Shiba Inu valued at $2.3 million transported to Gemini

According to the source’s most recent tweet, 182 billion Shiba Inu were just transferred to Gemini and other significant crypto trading platforms. This enormous quantity of meme cryptocurrency was sent to each of the exchanges in two transactions, each worth 82.4 billion and 100 billion Shiba Inus, according to a snapshot from Etherscan that Lookonchain published.

The price of the second-most popular canine token dropped by almost 7% the previous time this whale moved comparable sizable quantities of SHIB to exchanges, according to the cryptocurrency tracker.
On December 20 of last year, 200 billion Shiba Inu were wired during this transfer. Five hours later, the digital asset’s price decreased by 7%. In 2020, this whale going under the name of “SmartMoney” purchased 15.28 trillion Shiba Inu coins for just 10 ETH ($3,796).

Since SHIB was listed by Binance and other major exchanges in December, this wallet has been progressively selling part of its SHIB and then buying when the price decreases to sell when it starts to increase. The whale still had 3.33 trillion SHIB as of late December 2022.

Shiba Inu is currently being traded for $0.00001265, according to data provided by CoinMarketCap.

SHIB accomplishes a new goal

Shiba Inu reportedly succeeded in flipping MATIC from the position of the most traded cryptocurrency asset among the 100 greatest whales on Ethereum, according to a recent article by WhaleStats wallet tracker.

Nevertheless, data from the tracker’s own website reveals that this situation did not persist long and Polygon’s native token is once again at the position specified. The top Ethereum whales’ greatest holding, measured in U.S. dollar equivalent, continues to be Shiba Inu.

These top investors currently have Shiba Inus worth $643,866,334 in their possession. It accounts for 12.67% of their whole portfolio.