Shibanu’s plunge is due to concerns about the sale of ‘Big Hand’ – Crypto Potato

[뉴욕=박재형 특파원] According to an analysis, the reason for the sharp decline of SHIB, which entered the top 10 in the market capitalization ranking while continuing its sharp rise, is the market’s insecurity due to the movement of one large holder of a coin.

According to Crypto Potato on the 5th (local time), the price of Shibanu, which recorded an all-time high while continuing a surge last week, fell by up to 50% or more in a week.

Based on CoinMarketCap data, Shivanu fell 5.8% in New York time morning trading, with a weekly return of minus 25%.

In the market, one of the investors with the largest amount of Shibainu sees the heightened investor anxiety as one of the causes of the price drop as they move their funds to the exchange.

The investor is said to have recently moved more than half of the $8,000 worth of Shibainu, which has soared to $5 billion after buying it.

So far, it is presumed that the investor has not disposed of Shibainu. However, it is analyzed that anxiety about when he will start selling has affected the market.

Cryptopotato pointed out that Shibainu’s recent move is an example of caution against investing in cryptocurrencies, where supply is concentrated in a small number of investors.

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