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182 Billion SHIB Moved to Gemini, Last Time Similar Move Caused Shiba Inu 7% Drop: Details

Mon, 02/27/2023 - 10:13
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Yuri Molchan
Staggering amount of SHIB moved by crypto whale
182 Billion SHIB Moved to Gemini, Last Time Similar Move Caused Shiba Inu 7% Drop: Details
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Lookonchain smart money crypto tracker has spotted two massive SHIB transactions made earlier today, which moved nearly 200 million meme tokens to sell on crypto exchanges.

The Twitter handle warns that there might be a slight chance of the price going down after this since this has already happened before.

$2.3 million in Shiba Inu moved to Gemini

The recently published tweet of the aforementioned source shows that a total of 182 billion Shiba Inu was sent to Gemini and another major crypto trading platform recently. According to a screenshot from Etherscan shared by Lookonchain, this massive amount of meme crypto was wired in two transactions — 82.4 billion and 100 billion Shiba Inu — to each of the exchanges, accordingly.

The crypto tracker stated that the last time this whale moved similar large chunks of SHIB to exchanges, the price of the second most popular canine token fell by roughly 7%.

This transfer took place on Dec. 20 of last year, when 200 billion Shiba Inu were wired. About five hours after that, the price of the digital asset fell 7%. This whale, called "SmartMoney," initially bought 15.28 trillion Shiba Inu coins in 2020, paying merely 10 ETH ($3,796) for it.

Since then, this wallet has been gradually selling some of its SHIB and then buying when the price drops to sell when it begins to rise as SHIB was listed by Binance and other large exchanges, according to Lookonchain's December tweets. As of late December 2022, the whale still held 3.33 trillion SHIB.

As of this writing, Shiba Inu is changing hands at $0.00001265, per data shared by CoinMarketCap.

New Shiba Inu (SHIB) Pair Added by Binance US Exchange

SHIB reaches new milestone

According to a recent post by WhaleStats wallet tracker, Shiba Inu managed to flip MATIC on the position of the most-traded crypto asset for the 100 largest whales on Ethereum.

Data from the tracker's website itself, though, shows that this state of things did not last long, and Polygon's native token is back in the aforementioned position. Shiba Inu remains the largest holding of the top Ethereum whales in U.S. dollar equivalent.

At the time of this writing, these top investors are holding $643,866,334 in Shiba Inu in their wallets. That is 12.67% of their combined portfolio.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at