- SHIB continued to maintain a positive trend despite the continued decline.
- A massive sell-off occurred, led by dormant wallets.
Recent Shiba Inu [SHIB] The transaction attracted attention because the old wallet sold off all of its holdings, a move that resulted in huge profits for the wallet holders.
However, it remains to be seen how this sell-off will impact the meme coin’s trade flow.
Shiba Inu wallets make a big leap forward
According to the data Look on Chain, Shiba Inu Whale Wallet, which has been inactive for over three years, has recently made some big moves.
This wallet originally purchased 48.09 billion SHIB using 2 ETH in 2021, which is valued at approximately $2,625.
On May 27, the wallet sold its entire holdings for 278.7 ETH, roughly the equivalent of $1.1 million, a staggering 419x profit. The move comes amid a rise in meme coins.
Shiba Inu exchange flow trends
According to AMBCrypto analysis: Shiba Inu On May 27, inflows amounted to 510 billion SHIB, indicating that there was a significant outflow in addition to the 48 billion SHIB sold by large whale wallets.
While this wasn’t the highest inflow recently, it ranked high.
Conversely, an outflow analysis showed that 236 billion SHIBs were withdrawn from exchanges on the same day, indicating that sales of SHIBs exceeded purchases.
At the time of writing, inflows are around SHIB 45.7 billion and outflows are over SHIB 57.1 billion.
Source: Santiment
This resulted in a net flow balance on the exchange of approximately -11.4 billion, meaning that more SHIBs were withdrawn from the exchange than were sold.
SHIB trend remains positive
Daily Timeframe Analysis Shiba Inu It shows that it has experienced some downward trends recently.
However, it is above the short-term moving average (yellow line), indicating that the overall price trend is not entirely negative.
Source: TradingView
Read Shiba Inu (SHIB) Price Prediction 2024-2025
According to analysis by AMBCrypto, the whale selling occurred when SHIB was in an uptrend, closing up 4.81% on May 27.
Despite a drop of over 2% at the time of writing, SHIB was still trading above the yellow line.
