Meme coin prices have plunged alongside the wider crypto market in the last 48 hours. Shiba Inu (SHIB) , market capitalization’s second-largest meme coin, posted 3% losses in the last 24 hours as the selloff took a sharp turn. Other meme tokens have traded along similar lines, further plunging market sentiments. In the last 24 hours, whales have offloaded huge SHIB tokens, pushing the asset further into the red zone. Crypto analytics firm Lookonchain flagged a huge sale activity. A crypto whale sold 250 billion SHIB tokens worth approximately $6 million, aiming to take profits before further damage. The trader’s SHIB portfolio stands in profit after scooping 15.28 trillion SHIB for $3.8K in August 2020. From that point, the meme coin’s price has soared following bull cycles and mass accumulations from the community. The whale holds $52 million worth of assets after raking in $109 million in profits. This transaction follows previous trends from other whales dumping the asset. On Dec 16, 43 billion tokens were transferred to an unknown wallet, raising community reactions. Meme coins are susceptible to high swings because of prices and market structure. Rally After The Storm Amid a downtrend, meme coins can spark a frenzy on a wider crypto bulk cycle. SHIB bulls remain optimistic for an uphill run, which U.S. institutional investors will likely spark . Before the dip, the asset soared above 90% since the United States elections. Market bulls poured funds into meme coins in expectation of easing regulations in the country, a catalyst to drive the next upward momentum. Similarly, institutional investors also moved assets to reposition ahead of next year’s projections. Crypto enthusiasts investinghaven explained the possibility of a turnaround on X (formerly Twitter). “$ SHIB: 2025 Price Outlook This chart shows Shiba Inu’s price could peak near $0.0000998 in 2025, while the potential low is at $0.0000234. The path to these targets may see volatility, but it reflects broader crypto market trends. Patience could pay off for #SHIB.” Another factor that could spur increased accumulation is the altcoin season . This is characterized by fund flows from Bitcoin to other assets in a cycle. Several analysts have tipped an incoming altcoin season this month as whales move assets to other assets. However, volatility remains a key factor, with recent outflows and dwindling sentiments.
