After a 10,000% profit over the past year, Shiba Inu (SHIB) trends to the downside with the rest of the crypto market.
The meme coin had a surge driven by retail investors looking to ride the rally but has been unable to recover after a long period of persistent selling pressure.
At the time of writing, Shiba Inu (SHIB) trades at $0.000022 with a 6% and 30% loss in 24 hours.However, data provided by several monitors seems to suggest a change of dynamic in SHIB holders.
Retail investors and speculators appear to be dumping their tokens, in favor of larger investors.
These investors have been massively selling funs in lower timeframes while investors with bid orders from around $1,000 to $10,000 buy. Total orders still trend into negative territory, but selling pressure seems to be absorbed by SHIB whales.