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Spot On Chain's recent findings highlight significant activity on the Shiba Inu (SHIB) token market, as early investors acquired a substantial amount of SHIB again. This sudden influx into old wallets, nearing one trillion SHIB, raised speculation about a potential pump in the Shiba Inu token price similar to the 2021 bull run.
Gamza KhanzadaevThus, it is reported that one early buyer whale spent 1,000 WETH, worth about $3.83 million, for 149.3 billion SHIB. These tokens were deposited from a wallet, which got 5.16 trillion SHIB for just 45 ETH in March 2021. The buyer still has 1,169 WETH, worth about $4.45 million, which could be used for more SHIB purchases, as suggested.
Another early buyer has returned to the market after a two-year absence. Over the past few hours, this entity bought 4,849 WETH for 715.8 billion SHIB, impacting the increase of the price of SHIB. With 9,207 ETH and WETH, worth approximately $34.9 million, still in possession, this entity may continue to accumulate SHIB too.
2021 again?
The Shiba Inu token, introduced in 2021 and reaching a peak price of $0.0000857 during the bull market, is currently trading at $0.0000262. The renewed interest from early investors suggests they believe in SHIB's future.
As these early investors make strategic moves on the SHIB market, enthusiasts watch closely. Substantial investments and calculated acquisitions by once super early investors could signal a bullish trend for Shiba Inu, similar to the gains seen in 2021.
However, whether this indicates anticipation of a real bull market on their side or remains speculation is yet to be seen.
Vladislav Sopov
Tomiwabold Olajide
Dan Burgin
Alex Dovbnya