Major SHIB Warning Made by Shiba Inu Rep as Price Plummets 20% Weekly

Shiba Inu’s social media marketing lead, who refers to herself as Lucie, has issued a warning to the SHIB community and also provided a likely explanation for the meme coin’s recent weekly plunge by more than 20%.

In the meantime, a new SHIB whale has acquired an astounding amount of these meme coins.

Lucie warns Shiba Inu community

Lucie has warned the SHIB army to be cautious when trading digital currencies, saying that the cryptocurrency market has turned into a roller coaster now. The main reason for the market going red heavily at the moment, she believes, is the big news of the Bitcoin spot ETF approval by the SEC regulator, expected to be announced on Jan. 10.

Traders at the moment are trying to guess whether the SEC will indeed approve the new Bitcoin-based product, which will allow billions of U.S. dollars to inflow the cryptocurrency market and promises lavish earnings for ETF providers, or whether it will suspend it until a later date this year.

Before big news like ETF approval for Bitcoin, the market turns red.

Traders try to guess the outcome, causing a lot of ups and downs.

Altcoins get hit hard because they’re smaller and riskier.

It’s a rollercoaster, so be cautious – it’s quick qame 🎢 pic.twitter.com/XKbZT8e2mC

— 𝐋𝐔𝐂𝐈𝐄 | Shibarium ⛓️ (@LucieSHIB) January 8, 2024

Last week, Jihan Wu’s company Matrixport published an article that shook the whole cryptocurrency market. Matrixport analysts expect that the regulator is unlikely to approve the dozen Bitcoin spot ETF filings for various reasons, including political ones. This pushed Bitcoin down around 7%, making it lose the $45,000 level and approximately $3,000. Major and minor altcoins followed the leading cryptocurrency immediately.

Shiba Inu, the second largest meme-based cryptocurrency, in particular, lost 20.37%, dropping to the $0.00000867 level earlier today. By now, it has gained 4.37%. On the very day of the publication of the article, SHIB plunged more than 14%.

However, an ETF analyst at Bloomberg, James Seyffart, expects the SEC to give the green light to all 11 Bitcoin spot ETF issuers on Wednesday, Jan. 10, with merely two days to go before that day arrives.

New whale grabs half-trillion SHIB

Earlier today, according to a recent tweet by the @lookonchain blockchain sleuth, a fresh whale purchased a mind-blowing 546.34 billion Shiba Inu from the Binance exchange, doing it within the last hour.

The withdrawal was made in two massive transactions — 400,000,000 and 136,342,102,182 SHIB; together they were worth almost $5 million.

A fresh wallet withdrew 546.34B $SHIB($4.92M) from #Binance in the past hour.https://t.co/RivC1k30EM pic.twitter.com/rxMi3i8G5s

— Lookonchain (@lookonchain) January 8, 2024

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