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Massive 1.5 Trillion SHIB Purchase by Major Holder Kickstarts SHIB Price

Tue, 06/13/2023 - 10:09
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Gamza Khanzadaev
Shiba Inu mogul sweeps trillions of SHIB in game-changing move
Massive 1.5 Trillion SHIB Purchase by Major Holder Kickstarts SHIB Price
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Lookonchain, a prominent crypto intelligence portal, recently reported a substantial development regarding Shiba Inu (SHIB). Thus, a major holder of SHIB, identified by the address "0x40B3," has amassed a staggering 1.5 trillion SHIB tokens, equivalent to a remarkable $10 million. This acquisition took place today and involved transactions on major crypto exchanges Binance and Coinbase.

Shiba Inu (SHIB) Whale Activity Makes Dramatic Pivot After What Happened on Weekend

Interestingly, this is not the first time that "0x40B3" has made such a substantial purchase. The address had previously accumulated a whopping 5.3 trillion SHIB tokens, amounting to an impressive $35.5 million. Another significant transaction occurred on May 16, when "0x40B3" transferred an astounding 20 trillion SHIB tokens, equivalent to a staggering $134.4 million, to another address, "0x73AF."

SHIB to USD by CoinMarketCap

This whale, as the largest nonexchange holder of the Shiba Inu token, has captured the attention of the crypto community due to its immense influence on the market. Following the recent acquisition of 1.5 trillion SHIB tokens, the SHIB price exhibited a notable acceleration in its upward trajectory. Within a mere 15 minutes, the price surged by more than 1.5%. Moreover, since reaching its recent bottom last Saturday, the SHIB price has experienced a remarkable rebound of 24.4%.

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The future trajectory of the Shiba Inu token remains uncertain, with time being the ultimate determinant. However, the near term holds a series of highly significant events that are poised to have a direct impact on financial markets, particularly the crypto sector. Traders and investors are keeping a close watch on these developments, eagerly awaiting their outcomes and how they will shape the crypto landscape.

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About the author

Financial analyst, trader and crypto enthusiast.

Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management.

He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.