Shiba Inu Price Surge Ends in Pump and Dump Scenario: 52 Whales Cash Out on Retail

Shiba Inu's recent price surge ended in a classic pump and dump scenario, where large holders cashed out on retail investors. On-chain data from Santiment analysts shows that 52 whales sold their coins worth over $100,000 each within 24 hours.

The influx of liquidity from retail buyers created ideal conditions for large holders to convert their holdings into cash without immediately crashing the order books.

According to Etherscan, the Shiba Inu market is highly centralized, with just 0.05% of wallets controlling 94.64% of the coin's total supply.