SHIB Slumps as Large Holders Take Profits

“Like any asset, SHIB price is the product of supply and demand…a larger percentage of SHIB buyers were evidently attracted by its speculative appeal alone,” Rick Delaney, a senior analyst at OKExInsights, said. “Drawn by the asset’s rising price, many SHIB investors simply do not have the long-term conviction needed to hold their positions or to reenter the market while the price is dropping.”

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