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SHIK Price Plummet after Vitalik’s Address Sells 5 Trillion SHIK

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It is reported that, according to the monitoring of Lookonchain, after the sale of about 5 trillion SHIK at Vitalik\’s address yesterday, the price of SHIK plum…

SHIK Price Plummet after Vitaliks Address Sells 5 Trillion SHIK

It is reported that, according to the monitoring of Lookonchain, after the sale of about 5 trillion SHIK at Vitalik’s address yesterday, the price of SHIK plummeted by nearly 80%. Some SmartMoney and arbitrageurs immediately bought SHIK at very low prices and then sold it. One SmartMoney address earned 96 ETHs with 14 ETHs in SHIK, and another arbitrageur earned 89.6 ETHs with 6 ETHs.

SmartMoney and arbitrageurs arbitrage through the price fluctuation caused by Vitalik’s selling of SHIK

Analysis based on this information:


According to Lookonchain, the price of SHIK significantly decreased after Vitalik’s address sold approximately 5 trillion of the crypto coins. The data suggests that SHIK experienced an 80% drop in value following the sale. Following the dip in price, SmartMoney and arbitrageurs took advantage of the situation and grabbed the opportunity to purchase the digital currency at very low prices.

The sudden drop in the price of SHIK may have been caused by Vitalik’s address liquidating their holdings. The reason behind the sale may remain unclear, and it may only be speculative. However, it is clear that selling 5 trillion of a cryptocurrency would have a significant impact on the value of the digital asset.

The quick response of SmartMoney and arbitrageurs is evident from the report. They acted fast, taking advantage of the opportunity to accumulate SHIK. In the end, the move paid off as they sold the SHIK at a higher price, generating significant profits. One SmartMoney address earned 96 ETHs with 14 ETHs in SHIK, and another arbitrageur earned 89.6 ETHs with 6 ETHs.

Market watchers are likely following the story of SHIK carefully. The significant drop in the value of the crypto coins presents an excellent opportunity for traders, investors, and enthusiasts to accumulate the digital scarcity. The success of SmartMoney and arbitrageurs in taking advantage of the opportunity comes as no surprise. The volatility of digital assets has presented traders with ample opportunities to profit. However, with the rewards come significant risks in the cryptoverse.

In conclusion, Vitalik’s move to sell such a significant amount of SHIK has had a significant impact on the value of the digital currency. However, the reaction of the SmartMoney and arbitrageurs shows that digital assets traders will take advantage of opportunities to generate significant profits. The volatility in the cryptoverse presents many opportunities for profit, but it comes with significant risks. It is always advisable to understand the market, carry out due diligence and invest only what one can afford to lose.

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