{"id":138267,"date":"2023-09-02T04:09:29","date_gmt":"2023-09-01T22:39:29","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=138267"},"modified":"2023-09-02T04:09:29","modified_gmt":"2023-09-01T22:39:29","slug":"shiba-inu-shib-price-tanks-8-after-shibarium-launch-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/shiba-inu-shib-price-tanks-8-after-shibarium-launch-crypto-news\/","title":{"rendered":"Shiba Inu (SHIB) Price Tanks 8% After Shibarium Launch – Crypto News"},"content":{"rendered":"

<\/p>\n

\n

Since the beginning of the week, the altcoin space has come under strong selling pressure with no major catalyst in cite and the optimism around Bitcoin ETF waning away. However, the recent correction has also registered a surge in whale activity as per the on-chain data.\u00a0 Let\u2019s take a look into some altcoins seeing higher whale activity.<\/p>\n

Shiba Inu (SHIB)<\/h3>\n

Memecoin Shiba Inu (SHIB) has been on the radar of crypto traders with its price making strong gains in August this month. However, the SHIB price has entered into a strong retracement, and at press time, it\u2019s trading 8% down at a price of $0.000009304 with a market cap of $5.4 billion.<\/p>\n

<\/p>\n

There\u2019s a notable rise in the number of transactions involving Shiba Inu that are valued at $1 million or more. Despite its significant surge in the early part of August, much of SHIB\u2019s large wallets are now conducting substantial transactions as its price has retraced. Currently, SHIB experienced an 8.6% increase in August.<\/p>\n

\"\"
Courtesy: Santiment<\/figcaption><\/figure>\n

Interestingly, the price action has been heading lower despite Shiba Inu\u2019s Shibarium going live<\/a> hours ago. It\u2019s a classic case of buy the rumor sell the news event.<\/p>\n

XRP Network Whale Activity<\/h3>\n

After major price gains in July following the XRP lawsuit, the XRP price has undergone a major retracement in August this month. During the summer, XRP gained attention due to the SEC\u2019s lawsuit against Ripple being unsuccessful and the US categorizing XRP as a non-security.<\/p>\n

<\/p>\n

After its price surged above $0.83, the project\u2019s market value declined and dropped below $0.59. Interestingly, whales have recently become more active, possibly indicating the awaited accumulation phase. XRP\u2019s performance in August has shown a decrease of 16.8%.<\/p>\n

\"\"\"\"
Courtesy: Santiment<\/figcaption><\/figure>\n

Sandbox (SAND) and PancakeSwap (CAKE)<\/h3>\n

<\/p>\n

On-chain data provider Santiment reports<\/a> that Sandbox (SAND) and PancakeSwap (CAKE) have seen a sudden surge in on-chain activity.<\/p>\n

The Sandbox emerged as a smaller-cap asset that gained substantial attention in its early days. However, in recent months, the project has experienced more significant declines compared to other altcoins. Surprisingly, there has been a notable increase in whale transactions involving amounts over $100K on Monday. The performance of SAND in August has shown a decrease of 15.3%.<\/p>\n

Pancake Swap\u2019s appeal has somewhat diminished since the end of the crypto bull run in late 2021. Despite this, the project remains active, occasionally displaying price surges and significant volatility that appeals to adventurous traders. Interestingly, the asset recently witnessed a two-week high in whale transactions involving $100K or more, indicating potential developments for this popular token. In August, CAKE\u2019s performance has indicated a decrease of 8.7%.<\/p>\n

Note that the surge in whale activity doesn\u2019t necessarily mean accumulation.<\/p>\n

<\/p>\n

<!– <\/p>\n

\n
\n
\n
\n

<\/p>\n

\"\"\"\"<\/div>\n
Top Crypto Marketing Firms \/ Agencies 2023; Here\u2019s Best Picks [Updated]\n <\/div>\n

<\/a><\/p><\/div>\n<\/p><\/div>\n

\n
\n

<\/p>\n

\"\"\"\"<\/div>\n
Top 10 Web3 Games To Explore In 2023; Here List\n <\/div>\n

<\/a><\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n

–><\/p>\n

\n
\n
\n
\n
\n<!–<\/p>\n
<\/div>\n

–><\/p>\n

Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills. <\/p>\n<\/p><\/div>\n

\n \"\"\"\" <\/div>\n<\/p><\/div>\n<\/p><\/div>\n
\n

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n

<!– <\/p>\n

\n
\n Crypto Stories<\/span><\/p>\n

View all<\/a>\n <\/div>\n

\n
\n
\n
\n <\/p>\n
\"twitter_is_now_worth_just_33__of_elon_musk___s_purchase_price_720\"\"twitter_is_now_worth_just_33__of_elon_musk___s_purchase_price_720\"<\/div>\n
Twitter is now worth just 33% of Elon Musk\u2019s purchase price <\/div>\n

<\/a>\n <\/div>\n<\/p><\/div>\n<\/p><\/div>\n

\n
\n
\n <\/p>\n
\"will_cramer_curse_strike_again_720\"\"will_cramer_curse_strike_again_720\"<\/div>\n
Will Cramer Curse Strike Again? <\/div>\n

<\/a>\n <\/div>\n<\/p><\/div>\n<\/p><\/div>\n

\n
\n
\n <\/p>\n
\"mercedes_benz_to_release_nft_collection_with_fingerprints_dao_720\"\"mercedes_benz_to_release_nft_collection_with_fingerprints_dao_720\"<\/div>\n
Mercedes Benz To Release NFT Collection With Fingerprints DAO <\/div>\n

<\/a>\n <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n

–><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

Since the beginning of the week, the altcoin space has come under strong selling pressure with no major catalyst in cite and the optimism around Bitcoin ETF waning away. However, the recent correction has also registered a surge in whale activity as per the on-chain data.\u00a0 Let\u2019s take a look into some altcoins seeing higher […]<\/p>\n","protected":false},"author":2,"featured_media":133022,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[192,29,198,194,195,199,196,193,197,200],"class_list":["post-138267","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-blockchain-business","tag-business","tag-coins","tag-crypto-business","tag-cryptocurrency-business","tag-fiat","tag-metaverse-business","tag-nft-business","tag-token","tag-token-business"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/138267","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=138267"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/138267\/revisions"}],"predecessor-version":[{"id":148142,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/138267\/revisions\/148142"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/133022"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=138267"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=138267"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=138267"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}