Shiba Inu tumbles after second largest holder moves 40T tokens to new wallets

Meme coin Shiba Inu (SHIB-USD) drops nearly 20% intra-day after the second largest holder moved more than 40T tokens, or $2.3B worth, to four new wallets. "If he decided to sell these bags, SHIB would plummet -99.99% to zero," Financial analyst Jacob Oracle writes in a tweet. In addition, crypto exchange Kraken suggested earlier this week that it might list Shiba Inu (SHIB-USD), though a day later, "there's more work for us to do as we move through our listing review process," Kraken tweets, disappointing the ShibArmy. The tokens' market cap slashes from a peak of $51.41B on Oct. 27 to $28.5B just eight days later, according to data from CoinMarketCap. Some alt coins that are moving to the upside include Crypto.com Coin, climbing 16% to a new all-time high of $0.287 per token and; VeChain (VET-USD) rises 9.3% to become the 22nd largest crypto by market cap, however, the price is about half of what