Shiba Inu (SHIB) Investors Switch To The Hideaways (HDWY) As Meme Coin Declines Before Year Ends
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The popular meme coin backed by billionaire Elon Musk, Shiba Inu, is under another price dilemma following the FTX incident and losing some of its investors in fear of a bad start after 2023. Market participants run to The Hideaways (HDWY), seeing remarkable market dominance over the continuously falling meme coin.
As per Lookonchain’s data, crypto whales are making smart money decisions and dumping 207.2 billion Shiba Inu (SHIB) coins into Binance on December 14, relocating their capital as they’ve assumed more market drops that could hinder their capital growth by the year 2023.
Within the next few hours, the coin's price declined by 3% and it fell 3% more after the selloff occurred and broke the support levels of Shiba Inu (SHIB). The Hideaways (HDWY), on the other hand, gains a 72% increase in its market price.
Shiba Inu (SHIB) traders and investors now should keep an eye on the selloff of each whale as they could serve as a signal towards the uprise or downfall of the crypto’s market trading price.
Shiba Inu (SHIB) is currently in a short-term sideways-moving trend. Crypto has been stuck in the consolidation phase for about three weeks in the market. Despite its ability to break the range in volatile markets, it denotes hesitancy for various market participants.
The coin has been wavering between the $0.00000964 to $0.0000084 price mark in the narrow mark. In addition, the coin’s price exhibited a sequence of green and red candles that indicates an adjustment is crucial for each Shiba Inu (SHIB) trader and investor.
Furthermore, the rejection of Shiba Inu (SHIB) to gain further momentum suggests that coin holders need to
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