A whale investor offloaded a significant amount of Shiba Inu (SHIB) tokens onto Coinbase, making a profit of $1.63 million. The investor had accumulated the tokens over the past three years, purchasing them for $30.91 million. This move suggests that whales are taking profits amidst the current market downturn. SHIB has experienced a decline in price and trading volume, indicating reduced enthusiasm and potentially bearish momentum. Open interest in SHIB derivatives contracts has also decreased, suggesting waning interest from traders. These factors indicate the potential for further price drops, with a support level at $0.0000116. However, this decline may present an opportunity for traders to acquire tokens for future growth potential.



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