SHIB Price Alert: Analysts Predict Massive Sell-Off as AMB Group-Linked Address Gears Up for Profit

SHIB Price Alert: Analysts Predict Massive Sell-Off as AMB Group-Linked Address Gears Up for Profit

SHIB Sell-Off on the Horizon? Analysts are speculating about a potential large-scale sell-off of Shiba Inu (SHIB) tokens as an address linked to crypto market maker Amber Group prepares for profit-taking. Amber Group's SHIB Holdings On-chain analyst ai_9684xtpa has identified a specific address (beginning with 0x465) labeled as belonging to Amber Group on the blockchain analytics platform Arkham. According to the analyst's report, this address currently holds $13.75 million in unrealized SHIB profits. Recent SHIB Movements The analyst noted that approximately four hours ago, the 0x465 address transferred 1.11 trillion SHIB to a new address (beginning with 0x7b6). Of that amount, 70.9 billion SHIB ($178,000) was sent to Binance, a major cryptocurrency exchange. Historical Withdrawals The same address had previously withdrawn 1.36 trillion SHIB ($17.23 million) from Binance between September 2022 and February of this year. Analysts' Predictions Analysts believe that these recent movements indicate that Amber Group is preparing to cash out its SHIB holdings, potentially triggering a significant sell-off that could impact the SHIB price. Impact on SHIB Price A large-scale sell-off of SHIB could lead to a decrease in the token's price. However, the extent of the price impact is difficult to predict and may depend on factors such as the overall market conditions and the volume of SHIB sold. Monitor the Situation Investors should monitor the situation closely and consider adjusting their investment strategies accordingly. It is also important to note that the cryptocurrency market is volatile and can be unpredictable.