{"id":321504,"date":"2024-06-12T01:33:58","date_gmt":"2024-06-11T20:03:58","guid":{"rendered":"https:\/\/dripp.zone\/news\/shiba-inu-investors-move-4-29-trillion-shib-to-coinbase-whats-next-crypto-news\/"},"modified":"2024-06-12T01:37:41","modified_gmt":"2024-06-11T20:07:41","slug":"shiba-inu-investors-move-4-29-trillion-shib-to-coinbase-whats-next-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/shiba-inu-investors-move-4-29-trillion-shib-to-coinbase-whats-next-crypto-news\/","title":{"rendered":"Shiba Inu Investors Move 4.29 Trillion SHIB to Coinbase: What&#8217;s Next? &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p><span style=\"font-weight: 400;\">Shiba Inu: On June 11th, the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/trending\/why-is-the-crypto-market-declining-today\/\">cryptocurrency market<\/a> witnessed a sudden sell-off likely influenced by investors\u2019 uncertainty toward upcoming U.S. CPI data. The leading digital asset Bitcoin tumbled 3.62% to reach $66875 while Ethereum coin plunged 5% to hit $3480. While the renewed supply pressure hints at prolonged correction for most of the major altcoins, the seller\u2019s dominance was higher in the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/wp-admin\/post-new.php?post_type=markets\">memecoin<\/a> sector leading to a notab<\/span><span style=\"font-weight: 400;\">le correction in their assets.<\/span><\/p>\n<p>Also Read: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/sponsored\/shiba-inu-whales-are-buying-up-this-presale-token-like-it-the-next-100x-expert-analysis-on-defi-underdog-worth-0-04\/\">Shiba Inu Whales are Buying Up This Presale Token Like It the Next 100x, Expert Analysis on DeFi Underdog Worth $0.04<\/a><\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.82 --><\/p>\n<h2><b>How Ethereum ETF News is Influencing SHIB\u2019s Price Action<\/b><\/h2>\n<figure style=\"width: 1946px\" class=\"wp-caption alignnone\"><noscript><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/s3.tradingview.com\/snapshots\/h\/HEIDW1ix.png\" alt=\"BINANCE:SHIBUSDT Chart\" width=\"1946\" height=\"893\"\/><\/noscript><figcaption class=\"wp-caption-text\">Shiba Inu| Tradingview<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">SHIB, the second-largest main cryptocurrency by market cap, has been trading sideways over the past two months. Amid the May Month market recovery, the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/shiba-inu-coin-whale-bags-600b-shib-from-robinhood-hinting-price-gains-ahead\/\">Shiba Inu<\/a> price managed to stabilize above the $0.0000206 level and develop a local bottom.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This support coinciding with the 61.8% Fibonacci retracement level creates a high area of interest (AOI) and prevents further correction. However, with the Bitcoin price struggling to sustain above $70000, the recovery trend in SHIB price got capped below $0.000029, creating a narrow range in the daily chart.<\/span><\/p>\n<blockquote>\n<p><span style=\"font-weight: 400;\">While the broader market remains uncertain, the Shiba Inu coin tumbled 26.8% to currently trade at $0.0000215 while the market cap plunged to $12.6 Billion.<\/span><\/p>\n<\/blockquote>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.82 --><\/p>\n<p><span style=\"font-weight: 400;\">In a recent tweet, analyst OnchainDataNerd highlighted significant movements in SHIB tokens. Ten wallets collectively deposited 4.29 trillion SHIB (valued at approximately $97.33 million) to Coinbase. These wallets show consistent patterns, having accumulated SHIB during two distinct periods: September 2021 and March 2024.<\/span><\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">5 hour ago, 10 wallets deposited 4.29T <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24SHIB&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$SHIB<\/a> (~$97.33M) to <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Coinbase?src=hash&#038;ref_src=twsrc%5Etfw\">#Coinbase<\/a><\/p>\n<p>10 above wallets have the same movements:<br \/>\u2705Those <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24SHIB&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$SHIB<\/a> were accumulated in 2 different times: Sept 2021 and March 2024<br \/>\u2705The avg entry is $0.00001309 \ud83d\udc49 the profit will be $41.22M if sold all at current price <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/CYsMhYkgfc\">pic.twitter.com\/CYsMhYkgfc<\/a><\/p>\n<p>\u2014 The Data Nerd (@OnchainDataNerd) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/OnchainDataNerd\/status\/1800427511890993545?ref_src=twsrc%5Etfw\">June 11, 2024<\/a><\/p>\n<\/blockquote>\n<p><span style=\"font-weight: 400;\">The average entry price for these holdings is $0.00001309, indicating a potential profit of $41.22 million if sold at the current price. These transactions exert additional supply pressure on SHIB indicating a higher potential to revisit the $0.0000206 level.<\/span><\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.82 --><\/p>\n<p><span style=\"font-weight: 400;\">If the bottom support holds, the buyers recuperate the bullish momentum and prepare the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/shiba-inu-burn-rate-leaps-2955-amid-etf-talks-will-shib-price-recover\/\">SHIB<\/a> price for another reversal and continuation sideways.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">For buyers to regain control over this asset a breakout above the overhead of $0.0000296 is needed. If successful, a renewed recovery sentiment will set the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/price-predictions\/shiba-inu-shib-price-prediction\/\">SHIB price prediction<\/a> target to 53% up and challenge $0.000045.<\/span><\/p>\n<h2><b>Technical Indicator:<\/b><\/h2>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>EMAs: <\/b><span style=\"font-weight: 400;\">The 200-day <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/education\/exponential-moving-average-how-to-leverage-it-in-crypto-market\/\">Exponential Moving Average<\/a> slope wavering close to the $0.0000206 level will provide buyers with additional support to revert the coin price higher.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Moving Average Convergence Divergence<\/b><span style=\"font-weight: 400;\">: A bearish crossover between the MACD and a signal line extending below the midline indicating the seller is currently the dominating force in SHIB trading.<\/span><\/li>\n<\/ul>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.82 --><\/p>\n<p class=\"m-0\">Related Articles<\/p>\n<p>                                <!-- \n\n<div class=\"desktopPostEnd d-on\"><\/div>\n\n --><\/p>\n<div class=\"m-on mobiless\">\n<div id=\"social-section-new\">\n<p>\u2713 Share:<\/p>\n<p>                                  <a rel=\"nofollow noopener\" target=\"_blank\" class=\"social-text_new wp_new\" href=\"https:\/\/api.whatsapp.com\/send?text=https:\/\/coingape.com\/markets\/shiba-inu-investos-4-29-trillion-shib-to-coinbase\/\" style=\"display: block\">  <i class=\"fa fa-whatsapp\"\/><\/a><\/p>\n<div>\n                                <a rel=\"nofollow noopener\" target=\"_blank\" class=\"social-text_new tw_new_logo\" href=\"https:\/\/twitter.com\/intent\/tweet?text=https:\/\/coingape.com\/markets\/shiba-inu-investos-4-29-trillion-shib-to-coinbase\/\"><br \/>\n  <img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/08\/14164721\/x-logo.png\" class=\"mb-1\" alt=\"coingape\" width=\"30\" height=\"30\"\/><br \/>\n<\/a>\n                                <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>          <!-- \n\n<div class=\"m-on pl-2 pr-2\">\n            \n\n<div class=\"row\">\n            \n\n<div class=\"col-6 pr-2\">\n         \n\n<div class=\"Borderboxies_2 mb-3  fullmobx\">\n             \n            <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/top-7-crypto-marketing-firms-of-the-year\/?utm_source=abovesidebartabnews&utm_medium=organicarticle\">\n            \n\n<div class=\"SponserdyWebimg_2\"><img loading=\"lazy\" width=\"834\" height=\"833\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2022\/12\/15175104\/top_crypto_marketing_agencies.jpg\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" decoding=\"async\" ><\/div>\n\n\n                \n\n<div class=\"Sponserdtent_2 mt-2\">Top Crypto Marketing Firms \/ Agencies 2023; Here\u2019s Best Picks [Updated]\n <\/div>\n\n\n            <\/a>\n          \n            <\/div>\n\n\n            <\/div>\n\n\n                  \n\n<div class=\"col-6 pl-2\">\n                 \n\n<div class=\"Borderboxies_2 mb-3  fullmobx\">\n             \n            <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/top-10-web-3-games-to-explore-in-2023-here-list\/\">\n            \n\n<div class=\"SponserdyWebimg_2\"><img loading=\"lazy\" width=\"834\" height=\"833\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2022\/12\/23134356\/jpg_20221223_134223_0000.jpg\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" decoding=\"async\" ><\/div>\n\n\n                \n\n<div class=\"Sponserdtent_2 mt-2\">Top 10 Web3 Games To Explore In 2023; Here List\n <\/div>\n\n\n            <\/a>\n          \n            <\/div>\n\n\n            <\/div>\n\n\n                <\/div>\n\n\n        <\/div>\n\n                    --><\/p>\n<div class=\"TabDicA\">\n<div class=\"TBAcon \">\n<div class=\"authorFlip tabcS\" id=\"TabA201825\">\n<div class=\"authorBox\">\n<div class=\"author_Name\">\n<!--\n                                      \n\n<div class=\"getAuthoname\">\n                                          \n                                                                                 \n                                       <\/div>\n\n \n--><\/p>\n<p>Sahil is a dedicated full-time trader with over three years of experience in the financial markets. 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sudden sell-off likely influenced by investors\u2019 uncertainty toward upcoming U.S. CPI data. The leading digital asset Bitcoin tumbled 3.62% to reach $66875 while Ethereum coin plunged 5% to hit $3480. While the renewed supply pressure hints at prolonged correction for most of the major altcoins, [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":318827,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[188,183,185,186,187,184,189,150,182,190],"class_list":["post-321504","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology","tag-blockchain-tech","tag-blockchain-technology","tag-crypto-technology","tag-cryptocurrency-technology","tag-metaverse-technology","tag-nft-technology","tag-soul-bound-token","tag-tech","tag-technology","tag-token-technology"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/321504","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=321504"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/321504\/revisions"}],"predecessor-version":[{"id":321507,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/321504\/revisions\/321507"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/318827"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=321504"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=321504"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=321504"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}