Shiba Inu Top Holder Sells Another 600 Billion SHIB, Supply Pressure Mounts
A Shiba Inu top holder has sold another significant portion of their tokens, moving 600 billion SHIB worth $3.09 million today. This sale follows earlier transactions where the address offloaded 93.27 trillion SHIB, valued at $478 million, after realizing a total of $66.6 million from sales at an average price of $0.0000066.
The original stack of tokens was acquired in 2020 for just 37.8 ETH and peaked at a paper value of $9.1 billion in 2021. With this latest sale, the holder still controls 93.27 trillion SHIB, valued at $478 million.
This development puts fresh supply pressure on Shiba Inu price prediction models, which had been expecting a bullish trend. The technical analysis on the 4h chart shows price trading inside the Bollinger Bands with EMA50 and EMA200 serving as firm support zones. Additionally, MACD has registered a bullish golden cross and RSI holds neutral at 52.9, suggesting that any near-term test of upper band resistance could stall before a measured pullback to the 50-EMA.