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Massive $400 Billion SHIB Sell-Off Stuns Major US Exchange
Shiba Inu (SHIB) has been in a downward spiral over the past few days, with its value plummeting by over 21%. The coin’s price dropped from $0.00003076 to $0.00002409, as of writing time. This drastic change is largely attributed to whales offloading their SHIB coins onto exchanges.
According to reports, massive whale transactions have been observed on the Gemini exchange, with a staggering $400 billion worth of SHIB being sold by early investors. This sudden and unprecedented sell-off has left many wondering if the coin’s decline is a sign of a broader market downturn or simply a correction within the cryptocurrency space.
The drastic movement in SHIB’s price mirrors the recent bearish trend observed in the Bitcoin (BTC) market, as the largest cryptocurrency by market capitalization briefly dipped below $100,000 before recovering. The Federal Reserve’s decision to cut interest rates by 25 basis points instead of 100 in 2025 has also contributed to the market instability.
As a result, many investors are left questioning whether this is a sign of things to come or just a correction.
Source: u.today
