The Silly Reasons Shiba Inu is Falling.

yeah so it seems like a big catalyst by

the way for why sheep is falling is

really the headline we see here from uh

behrens this is really the account

remember the account that turned eight

thousand dollars into like 2.76 billion

dollars well that account now considered

a whale

uh is uh has has moved

their 2.76 billion dollars to four

different wallets with no previous

history and that's uh leading to some

concern that potentially potentially uh

they are getting ready to dump uh their

their shiba inu and so this is uh this

is really

making folks a little nervous about

sheep in fact you go over here to

bloomberg

let's see here

sheba whale wallets with billions raise

alarm of crypto sleuths let's take a

look at this

so we have the total market value of the

token soared to more than 51 billion

leap frogging over dogecoin and putting

it amongst the top 10 but the frenzy

cooled off in recent days yanking the

coins market value down by about 31

the attention has been fixated on a

handful of whale wallets that control

most of sheep

there and there's unsettling news for

all the new minnows who bought shiva in

you and are sitting on paper gains of a

lifetime one of the whales has been

moving coins due to different wallets

raising concerns that the holder is

about to sell

the dog coin drama is the latest episode

that highlights the fact that despite an

abundance of transparency in a market

where every transaction is recorded on

blockchain the anonymity of players

involved including in the case even the

creator of the coin leads to a house of

mirrors effect because no one

really knows exactly who is doing what

that's a good point even though it's so

transparent it leads to leads to more

speculation and concern because it's so

transparent that's uh that's interesting

the sheep oh see look at this here block

works reported the sheep owner that

turned 8k into oh 5 billion oh i didn't

know they turned into that much

just removed 2.9 billion worth of shiba

tokens from the original wallet wow okay

i thought it was 2.76 but i guess it's

2.9

uh but then again that's crazy anyway

shiba ini was not the first coin to

trigger concern about high ownership

concentration initially bitcoin and

ethereum were highly influenced by

whales whose trades could swing market

prices

their ownership concentration has since

declined as more institutions and retail

investors jumped into crypto that said

today about 2 000 addresses own more

than 40 percent of all bitcoin

there are many pockets of the crypto

market where coin ownership is highly

concentrated

many of the smaller of the more than 13

500 cryptocurrencies are majority owned

by a handful of wallets

in d5 apps which create their own tokens

to let people trade land and borrow from

each other a small percentage of users

control everything between 20 to 50

crypto trading firms are pushing most of

the volume in crypto wow

i don't think it's totally see this is

this reiterates to what jp morgan

reported that 70 of crypto trading is

done by institutions and these are

institutions with with just billions

upon billions of dollars and they've got

massive power to move the market my

expectation is if we ever get a

substantial market correction again in

the stock market you'll see a lot of the

trading firms uh pull money to the

sidelines and and you could get sort of

an exacerbated uh crypto drawdown

uh because of institutions

and that would be expected i mean if

institutions pull that sometimes that's

a great time to buy the dip because

institutions have such a

disproportionate impact on the market

but anyway i don't think it's totally

different

than the way things work in traditional

finance yes exactly still a lack of

regulation and official market

surveillance leaves meme coins like

shiba inu vulnerable to suspicion even

as its price surges

all right legitimate crypto has a solid

underlying economic economic case its

value does not depend heavily on who

holds how much of it has brought but for

crypto with no underlying economics

whose value is determined only by

speculation concentration of ownership

suggests a rigged game

what a way to end that article

so then we have uh that was uh that was

the barons version

here's the i'm sorry that was the

bloomberg version here's the barons

version

and they i believe also let's see here

sheep's tumble coincided with the

movement of significant quantities of

coins across the blockchain the

decentralized ledger tech that underpins

cryptocurrencies to other wallets more

than 40 trillion coins removed wednesday

from the wallet of a shiba inu

a whale yeah look at this when you look

at the block works pick

ah they don't show it on here i looked

at it and it was four transactions of 10

trillion coins each it was crazy

uh to see the amount of movement but

anyway

that may have spooked individual

investors and prompted the sell-off

and when holders of large quantities of

crypto jockey their coins around it is

indicative of a possible future sale

that can prompt sharp price movements

especially in the likes of shiba inu

which has a particularly concentrated

ownership

now i know we've got a pretty large burn

wallet in shebs so i wonder if the

reporters are reflecting that properly

but if we hop into sheep

we've definitely oh gosh yeah i mean we

we keep breaking through

fibonacci support levels here you can

see we definitely had solid bounces here

off the 58 level we broke through pretty

immediately

through that support we did come back

but this was really foreshadowing the

pain that was to come and and this is

happening right now live here on the 30

minute chart we're seeing this decline

on the one minute chart we're also

seeing this decline here sitting at

48.73 right now and uh yeah it really is

coming off of these fears

of uh of of these whales moving money

around so we'll see uh how long this

pain lasts particularly here uh i

suppose it it depends what uh what some

folks do with their coins but i can

imagine if you i mean who knows maybe

some of this this falling is

uh some some accounts starting to sell i

mean obviously some accounts are

starting to sell but then again if that

whale sold we would have probably seen

some movement there already uh let's see

here let's go to block works let's see

if we can go to the account so the block

works covered this

block works dot co

so block works

see here i knew it was 2.76 see

somebody it's just the the valuation

changed maybe i was i thought i was

right about the 2.76 but anyway here we

can see the the account

see look at this uh where was it there

there there look at that out

10 trillion coins 10 trillion 10

trillion 10 trillion 10 trillion and

then what we could do is we can look at

the two address

let's see two two two

two

let's see how these guys are doing so

these

so it looks like they're consolidating

some money over here look at this the

dogs of elon

kisha inu kishu inu

uh

so a bunch of transfers in

bunch of transfers in

in

and

in alchemy as well

very interesting

i mean this is uh it's pretty crazy it's

some pretty crazy amounts but yeah you

get these four wallets over here

uh and so so far i don't see any selling

from this particular account but anyway

it's the fear of that that's leading to

this rundown in sheep and i think maybe

when that fear subsides shape can can

run back up we did also have a little

bit of uh

trend pressure though uh that we were

really having trouble breaking above uh

the the line over here our our trend

line so keep an eye on that

anyway that's cheap

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