Shiba Inu whale dumps massive 2.15 million SHIB on Coinbase, price crash incoming?

Whale dumps massive 2.15M SHIB on Coinbase, price crash incoming

The Shiba Inu ecosystem is in a frenzy as three days ago, an unidentified whale dumped massive amounts of tokens into Coinbase, a top-tier exchange platform. The staggering number of Shiba Inu (SHIB) tokens offloaded immediately caused bearish speculations to fly among the coin holders and the crypto market at large.

Consequently, some SHIB holders began opting for safer and more viable options like the ETFSwap (ETFS) as the price of Shiba Inu (SHIB) went down by 3% over the next 24 hours. Although the coin price has tracked back up by 10% since then, that has not done anything to ease investors’ minds or stop them from finding safer options. 

Shiba Inu whale sells $2.15 million SHIB in Coinbase at a loss

As reported on May 1 by an on-chain tracker called “The Data Nerd,” a remarkable 101 billion Shiba Inu (SHIB) token worth $2.15 million was transferred by an unidentified whale to Coinbase.

Interestingly, the whale had invested $2.71 million in acquiring these tokens just a week prior. However,  the whale suffered a staggering $560,000 loss when it sold during the broader meme market decline.

This immediately sent Shiba Inu (SHIB) investors into a frenzy, as they were extremely concerned about the token’s ongoing negative market movement. The bearish sentiment was further amplified by the broader market conditions, as the whale’s sell-off signaled a loss of interest in the token.

Nevertheless, a lot of investors are still holding, and these holders are more concerned with the possible future growth, expansion, and acceptance of the Shiba Inu ecosystem than they are with giving in to the short-term volatility of the market.

According to on-chain statistics, 653,530 addresses own a staggering 733.61 trillion SHIB tokens. These addresses purchased these Shiba Inu (SHIB) tokens at an average price of $0.000011, putting them in profit.

As of this writing, SHIB has gained 7% over the previous day to $0.00002544, keeping pace with the overall market rebound. 

ETFSwap (ETFS) saving investors from market decline

The ETFSwap (ETFS) platform emerged just in time for Shiba Inu (SHIB) investors after the whale dump, causing the token to decline. As opposed to Shiba Inu, the ETFSwap platform will provide market-making and round-the-clock perpetual trading services for users to trade tokenized ETFs on the Blockchain.

As a decentralized trading platform that aims to take benefit of the expanding tokenized market, ETFSwap (ETFS) will incorporate cutting-edge trading solutions such as price trackers and ETF filters into its platform, which will enable traders to monitor the real-time performance of ETFs.

It will also employ Blockchain technology to improve transparency, security, and efficiency in its everyday operations. In fact, CyberScope, a top cybersecurity company, has performed a thorough audit of the platform and found no vulnerabilities in its contract.

The ETFSwap (ETFS) platform, unlike the traditional trading platforms, will operate without the need for KYC procedures and allow traders to leverage their trades up to 10x. It will also provide users with its native token, ETFS, which unlocks the gates to the ETFSwap ecosystem.

Currently, in Stage 1 of its presale, ETFSwap (ETFS) has sold out over 50M tokens and counting, highlighting the project’s long-term potential, as well as the demand for the token.

Investors can purchase ETFS tokens in its presale at $0.00854. With its price expected to reach $3 upon listing, investors are looking at an over 10,000% return.

For more information about the ETFS presale:-

Visit ETFSwap Presale

Join The ETFSwap Community

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Mark Peterson: Mark Peterson has been following the crypto market for the past seven years. As a crypto news journalist, he has recently joined our team. He regularly delivers the most recent happenings of the crypto space. He enjoys writing poems and exploring various crypto trading platforms in his spare time.