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Shiba Inu Investor Transfers Tokens to Exchanges, Possibly Foreshadowing Price Drop

A crypto wallet holding a large amount of shiba inu (SHIB) tokens is moving funds to exchanges, with historical data suggesting a decline in prices in the short term if the holder were to sell the tokens.

Wallet 0xd6 moved over 182 billion shiba inu tokens to crypto exchanges Gemini and Crypto.com in Asian morning hours on Monday, data cited by analytics firm Lookonchain shows.

Three months ago, the same wallet moved more than 200 billion SHIB to Crypto.com, selling them for U.S. dollars. The market price fell 7% at the time.

(By Shaurya Malwa)

Get the latest news here: Cointime channel — https://t.me/cointime_en

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