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Over the past 24 hours, whales have offloaded huge SHIB tokens, pushing the asset even further into the red zone. Cryptocurrency analysis company Lookonchain reported huge sales activity. A crypto whale sold 250 billion SHIB tokens worth around $6 million, aiming to make a profit before suffering further damage.
The trader’s SHIB portfolio is in profit after harvesting 15.28 trillion SHIB for $3,800 in August 2020. From that point on, the price of the meme coin skyrocketed following bull cycles and massive accumulations of the community. The whale holds assets worth $52 million after raking in $109 million in profits.
This transaction follows previous trends of other whales abandoning this asset. On December 16, 43 billion tokens were transferred to an unknown wallet, sparking community backlash. Meme coins are susceptible to significant fluctuations due to pricing and market structure.
Gathering after the storm
Amid a downtrend, meme coins may spark a frenzy on a broader cryptocurrency cycle. SHIB bulls remain optimistic about a surge, which American institutional investors will likely generate. Before the drop, the asset had climbed above 90% since the US election.
 Market bulls have invested funds in the same coins in hopes of easing regulations in the country, a catalyst to spur the next bullish momentum. Likewise, institutional investors have also been moving their assets to reposition them ahead of next year’s projections. Investing crypto enthusiasts explained the possibility of a turnaround on X (formerly Twitter).
«$SHIB: Price Outlook for 2025 This chart shows that Shiba Inu price could peak near $0.0000998 in 2025, while the potential low is at $0.0000234. The path to these goals may experience volatility, but it reflects broader trends in the crypto market. Patience could pay off for #SHIB.
Another factor that could stimulate increased accumulation is the altcoin season. This is characterized by funds flowing from Bitcoin to other assets over the course of a cycle. Several analysts have predicted a new altcoin season this month, as whales shift their holdings to other assets. However, volatility remains a key factor, with recent capital outflows and declining confidence.