The post Shiba Inu Investor Sells Off 1,700,000,000 SHIB, Goes All-In on Viral Presale Meme Coin appeared on BitcoinEthereumNews.com.

In a surprising turn of events, a major Shiba Inu (SHIB) investor has recently offloaded 1.7 billion SHIB tokens before reinvesting in MoonTaurus (MNTR), a trending presale meme coin. This sell-off has captured the attention of the crypto market, particularly as the investor redirects their focus towards accumulating a massive position in a new market entrant. Shiba Inu Faces Challenges Amidst Sell-Off Shiba Inu’s price has seen a modest 13% increase over the past week, reflecting short-term momentum. However, this uptick is threatened by underlying issues, particularly a widening bid-ask spread. This metric, which measures the difference between buy and sell prices, has seen a spike, indicating growing illiquidity. For traders, this signals potential short-term losses, as a high spread often leads to sharp price fluctuations. Adding to Shiba Inu’s woes is a decline in network growth, a key indicator of adoption and user engagement. The number of new addresses conducting their first transaction on the Shiba Inu blockchain has dropped, suggesting waning interest in the token. This decline in network activity could further weaken long-term demand, putting additional downward pressure on SHIB’s price, which currently hovers around $0.000014. Given these challenges, the decision by a prominent SHIB investor to liquidate such a significant amount of tokens signals a possible loss of confidence in Shiba Inu’s future prospects. Instead, this investor has opted to reinvest in MoonTaurus, a move that highlights the growing allure of this new meme coin. MoonTaurus (MNTR) MoonTaurus (MNTR) has rapidly become a topic of interest within the crypto community, particularly after a notable 100% price increase during its presale. The coin has now entered the second phase of its presale, with MNTR tokens being sold at $0.01 each. The MNTR presale has already attracted substantial investor interest, with over $400,000 raised and more than 1,300…

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Filed under: News - @ September 1, 2024 10:01 pm