Shiba Inu Price Analysis: Whales Move $5 Million Worth of SHIB

Shiba Inu has lost more than 25% of its value since Sunday, August 12th.

A whale transferred 708 million SHIB tokens worth $5.9 million from Gemini to an unknown wallet.

The official SHIB burn address now holds 410 trillion SHIB tokens, which is about 41% of the total supply.

The SHIB burn rate has decreased by 44% in the last day.

Shiba Inu was not left out of the bloodbath that swept through the market last week on Thursday when Bitcoin’s price shook off the $29,000 zone and dragged the entire crypto market down with it.

From Sunday 12 August’s $0.00001 peak, Shiba Inu is now down by more than -25%

This price decline has now completely wiped out all the gains SHIB made during the Shibarium launch hype