Over 1 Trillion Shiba Inu Discharged! What’s going on?

Big bears sold millions of dollars worth of Shiba Inu (SHIB) during the market turmoil. The panic environment was created by Arkham Intelligence’s mistakenly misunderstood Mt. Gox and the U.S. government reported that they had started selling Bitcoin.

Whales sell trillions of Shiba Inu in the Fud news

More than 1.4 trillion Shiba Inu were sold by whales yesterday, as reported by crypto analytics platform IntoTheBlock. The sale was triggered by a false rumor that Bitcoins confiscated by the US government were being sold. This caused panic among companies and caused the crypto market to collapse.

As Kriptokoin.com, we have stated that the USA will sell the large amount of Bitcoin obtained in the Silk Road case on these dates. The day’s hefty Shiba Inu sales show that the news is quickly gaining traction among investors. Specifically, the last SHIB sale came at a time when the difference between major purchases and sales was just 26.1 billion SHIB. This was a sign that most of them were still bullish.

SHIB bears in hand

Shiba Inu price action remains below bearish bias. The current ratio of sellers to buyers is also not in favor of the bulls, with 130 sellers for every 121 buyers. When determining this rate, only addresses that have traded at least 1% of the total SHIB transaction volume are taken into account.

However, it is still unclear how the SHIB price will perform in the future. On the other hand, until the last drop, the fact that BONE and LEASH started to attract attention from different crypto exchanges was interpreted as a bullish sign.

This news could turn the tide for the Shiba ecosystem

Blockbank, the all-in-one crypto neo-banking app, announced the Shiba Inu listing a few days ago. The crypto app has decided to list SHIB in Blockbank’s EARN program based on community requests. Users will now be able to earn interest with SHIB through Blockbank.

The earnings rate (APY) with the year that Blockbank offers through SHIB will be 5%. Also, users can pay up to 10% extra APY in BBANK, Blockbank’s native token.

Shiba Inu ecosystem tokens SHIB, BONE and LEASH continued to attract interest from different crypto exchanges. BONE recently had the backing of Flitpay, a popular Indian crypto exchange. Meanwhile, NOWPayments has announced its plans to integrate Shibarium. The platform will be the first payment gateway to do so.

NOWPayments says it has already filed the application on the official Shibarium website. He also states that he received a welcome email response from Shytoshi Kusama. It turned out that the next step was to post more information about their solution. The platform also says it’s to wait for the Shibarium team to share their next steps.