Advertisement
AD

Main navigation

1 Trillion Shiba Inu (SHIB) Bought by Secret Whale: What's Going On?

Advertisement
Sun, 1/09/2024 - 16:15
1 Trillion Shiba Inu (SHIB) Bought by Secret Whale: What's Going On?
Cover image via www.freepik.com
Read U.TODAY on
Google News

An unidentified large floating object was detected in the Shiba Inu (SHIB) ecosystem this week. It is a whale, as it is called by particularly large investors in the market.

Advertisement

The Shiba Inu ecosystem is home to many such entities. For example, according to IntoTheBlock, the concentration of addresses holding at least 1% of the outstanding supply of all Shiba Inu tokens is 59.95% or 589.67 trillion SHIB. To be fair, however, 410.42 trillion tokens are held on a dead address and are considered burned.

Article image
Source: IntoTheBlock

Related

The hero of last week, however, was the address "0x78342," which absorbed over 1 trillion SHIB in the last seven days.

Advertisement

This is not the unknown investor's first foray into the popular meme-inspired cryptocurrency; including his purchases during the week, the total amount of his SHIB portfolio came to 1.486 trillion tokens. At the current Shiba Inu price of $0.0000135, this volume is equivalent to $20.16 million.

Article image
Source: Arkham Intelligence

In addition, it can be noted that most of the Shiba Inu tokens came to this unknown wallet from another unknown wallet "0x826c." Interestingly, this address still has 1.395 trillion SHIB, which is about $18.87 million.

Related

What this partial accumulation and movement of wallets from one address to another means is a question to ponder.

On the one hand, a large investor accumulates SHIB in millions of dollars. On the other hand, these tokens come from another unknown address, not the exchange, which may not mean accumulation, but just an unknown big player organizing his Shiba Inu wallets.

Related articles

Advertisement
TopCryptoNewsinYourMailbox
TopCryptoNewsinYourMailbox
Advertisement
Advertisement

Recommended articles

Latest Press Releases

Our social media
There's a lot to see there, too

Popular articles

Advertisement
AD