{"id":300708,"date":"2024-05-13T12:06:30","date_gmt":"2024-05-13T06:36:30","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=300708"},"modified":"2024-05-13T12:06:30","modified_gmt":"2024-05-13T06:36:30","slug":"shiba-inus-price-tanks-4-amid-100b-shib-moved-to-coinbase-whats-next-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/shiba-inus-price-tanks-4-amid-100b-shib-moved-to-coinbase-whats-next-crypto-news\/","title":{"rendered":"Shiba Inu’s Price Tanks 4% Amid 100B SHIB Moved To Coinbase, What’s Next? – Crypto News"},"content":{"rendered":"

<\/p>\n

\n

Against the backdrop of a price correction experienced by Shiba Inu over the past week, the meme coin continued a downside momentum today, May 13, piquing significant investor attention. Amid this slumping price action, a whale was noted to be moving a whopping 100 billion SHIB to Coinbase, one of the globally leading CEXs<\/a>.<\/p>\n

This phenomenon has incited a whirlpool of speculations on the dog-themed meme coin\u2019s future price movements. Besides, despite the Shiba crypto community\u2019s recent token-burning chronicles and upgrades for the SHIB ecosystem, the meme coin\u2019s continued sinking price trajectory has fueled bearish thoughts among investors.<\/p>\n

<\/p>\n

100 Bln SHIB Moved To Coinbase: What\u2019s The Scoop?<\/h2>\n

According to data from the on-chain tracker \u2018The Data Nerd,\u2019 the whale address 0x462 made a deposit of 100 billion SHIB to Coinbase<\/a> today. It\u2019s important to note that this doesn\u2019t necessarily indicate a sell transaction. However, given the current plunge in SHIB\u2019s price, speculations about the implications of this transfer persist.<\/p>\n

Meanwhile, data further illustrates that these tokens were accumulated at an average entry price of $0.00002408. If sold now, the whale will reportedly suffer a loss of $178K.<\/p>\n

Upon further investigation, it was found that this address had no other token holdings in his wallet. Whereas a couple of its past transactions revolved around SHIB.<\/p>\n

<\/p>\n

Coming in tandem with Shiba Inu\u2019s slumping movement, this crypto transfer to the Coinbase exchange wallet has ignited speculation over a continued price dip as the whale might sell the tokens moved to Coinbase, flagging loss of confidence in SHIB\u2019s potential to offer future gains.<\/p>\n

<\/p>\n

Also Read: XRP Price Slips Below $0.5 As Whale Offloads 30M XRP, What\u2019s Next?<\/a><\/strong><\/p>\n

Shiba Inu Price Sinks, More Pain Ahead?<\/h2>\n

Whereas, while writing, SHIB\u2019s price<\/a>\u00a0cracked 3.84% in the past 24 hours and is currently trading at $0.00002173. The meme coin\u2019s market cap fell 3.76% to $12.81 million, whereas the 24-hour trading volume rose 23.14% to $222.01 million.<\/p>\n

Coinglass data pointed out a 1.68% decrease in SHIB\u2019s open interest, reaching $57.99 million, followed by a derivatives volume upswing of 46.46% to $84.39 million.<\/p>\n

<\/p>\n

Illustrating heightened trading activity with reduced investor interest in the asset, the abovementioned data underscores Shiba Inu\u2019s current market volatility. In the interim, the RSI rested at 38, flagging some selling pressure on the token.<\/p>\n

With technicals also showing a selling sentiment for the asset, further dips in the short term might be expected. However, gazing in on long-term prospects, a post-BTC halving could bring about a price rally in Shiba Inu<\/a>, further coupled with bullish aspects such as continued token burns and ecosystem developments.<\/p>\n

Also Read: Crypto Prices Today May 13: Bitcoin At $60K, Ethereum Plunges Amid Bear Market<\/a><\/strong><\/p>\n

<\/p>\n

\n
\n

\u2713 Share:<\/p>\n

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

\n <\/p>\n

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

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article. <\/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
\"5<\/div>\n
5 Important Highlights from the Recent Fed Meeting <\/div>\n

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

\n
\n
\n <\/p>\n
\"ChatGPT's<\/div>\n
ChatGPT\u2019s Next Big Upgrade: What You Need to Know <\/div>\n

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

\n
\n
\n <\/p>\n
\"5<\/div>\n
5 Reasons behind Mega Bank\u2019s 2024 Ethereum Price Prediction <\/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":"

Against the backdrop of a price correction experienced by Shiba Inu over the past week, the meme coin continued a downside momentum today, May 13, piquing significant investor attention. Amid this slumping price action, a whale was noted to be moving a whopping 100 billion SHIB to Coinbase, one of the globally leading CEXs. This […]<\/p>\n","protected":false},"author":2,"featured_media":225720,"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-300708","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\/300708","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=300708"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/300708\/revisions"}],"predecessor-version":[{"id":300710,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/300708\/revisions\/300710"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/225720"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=300708"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=300708"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=300708"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}