The largest holder of Shiba Inu (SHIB) tokens, known as a "whale" in crypto parlance, has moved four trillion SHIB tokens (approximately $29.8 million) to eight new addresses today, according to blockchain data platform Lookonchain.
This is the first significant transaction from the whale in nearly two years, with the last one made 610 days ago.
The account, reportedly holding 101.47 trillion SHIB tokens or about 10.15% of the total supply, is estimated to be worth roughly $756 million.
According to Lookonchain, the whale initially acquired an even larger amount of 103.33 trillion SHIB tokens, making the purchase with 38 Ether (ETH), then worth $14,000. Later, 603 billion SHIB tokens were sold for 2,411 ETH or $9.6 million, and an additional 1.25 trillion SHIB tokens, approximately $8.77 million, were deposited on the Coinbase cryptocurrency exchange in 2021.
This large transfer of SHIB tokens has attracted attention from the crypto community and may affect market dynamics.
It remains to be seen what the whale intends to do with the recently transferred tokens, but their actions will undoubtedly be watched closely by SHIB holders and investors.
As of the given data from CoinGecko, the Shiba Inu (SHIB) token is trading at a price of $0.00000748, indicating a slight uptick of 1.2% in its value. The market capitalization for SHIB currently stands at approximately $4.41 billion, suggesting a robust standing on the crypto market.
Vladislav Sopov
Dan Burgin