SHIB Price Swings on Macro Volatility, Whale Activity

The price of Shiba Inu (SHIB) fluctuated by 3.3% due to a combination of market-wide volatility, significant whale activity, and short-term technical trading.

Crypto markets reacted strongly to recent US inflation data and shifting Federal Reserve rate expectations, with the Core US CPI for August coming in at 0.3%, higher than forecasted.

This shift increased the likelihood of a Fed rate hike from approximately 70% to around 90%, triggering substantial liquidations and volatility across major cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), and XRP.

Notable whale transactions involving SHIB contributed to price volatility, with a significant transfer of 125.33 billion SHIB from a BitGo custody wallet to a new, unlabeled wallet observed.