After an impressive bull run, Shiba Inu (SHIB) has taken a hit from a recent whale movement.
The price of SHIB has dropped by over 28% in the past week.
However, the Shiba Inu community still has high hopes that the SHIB coin shall make a comeback and investors have started preparing the dip, especially amid the talks of Kraken listing and possibly even a Robinhood listing.
What is causing the current SHIB dip?
SHIB appears to have fallen vulnerable for the whale games by over 950% surge since the first quarter.
Jacob Oracle, a popular crypto analyst, shared data highlighting the movement of the wallet which turned his $8k Shib investment into almost $5.7 billion.
Remember the guy who turned his $8K $SHIB Investment into $5.7 Billion?
Well, he recently moved 40+ trillion of his #SHIB holdings to new four new wallets.
If he decided to sell these bags, SHIB would plummet -99.99% to zero. Oof. pic.twitter.com/HqrWw57nr2
— Jacob Oracle (@JacobOracle) November 3, 2021
40+ trillion of his investment has been redeemed from the same wallet to his other four.
Analysts expects the meme coin to dump its profit by 99.99% if he steps ahead to sell his holdings.
Netizens say that this is a sign of liquidation, additionally, in the last 24 hours ByBT data shows a $1.39 liquidation
Analyzing Shiba Inu prices.
Shiba Inu recently claimed its new ATH of $0.00008845 as its popularity jumped beyond that of Dogecoin (DOGE).
With the recent rejection of the price at the $0.00006458 support zone, the SHIB price has dropped to $0.00004479 with a negative gain of -33.45%.
Shiba Inu will experience a drastic dump if it fails to sustain the next immediate asset which lies between $0.00004198 and $0.00003626.
Kraken listing in their exchange will act as a major catalyst for the next price action which is expected to claim higher post listing.
However, the meme coin is still high with over 60 million percent in a year-to-date performance with the latest drawbacks being merited breather before the resumption of the next bull cycle.