A staggering transfer of Shiba Inu meme coins has been detected by popular blockchain tracker Whale Alert, which tracks down big crypto transactions and shares them on its website and Twitter (X).
This time, an anonymous wallet transferred close to 4.4 trillion Shiba Inu, helping a new SHIB whale to emerge on the market.
This has not been the only SHIB transfer moving trillions of SHIB over the past few days. Massive Shiba Inu purchases are being made now as the launch of the Shibarium blockchain is approaching in a week's time.
13 trillion SHIB land in new wallets this week
According to the data shared by the aforementioned platform, 4,367,252,578,938 Shiba Inu tokens worth $39,276,886 USD were transferred from one anonymous wallet to another; the latter was completely new with no earlier transactions conducted.
Since Whale Alert did not mark either the sending wallet or the receiving one as being linked to any crypto exchanges, they were marked as "unknown wallets." It seems that it was a new whale purchasing almost five trillion Shiba Inu meme coins.
Still, this is not the first transaction of this mega size that has been spotted by Whale Alert this week.
On Sunday and Monday, the tracking service noticed chunks of 4,382,252,578,938 SHIB and 4,412,252,578,938 SHIB transferred to new "unknown" wallets as well.
On Monday, IntoTheBlock on-chain data vendor reported that large SHIB whales scooped up approximately 11 trillion Shiba Inu. That eye-twitching amount of meme coins was grabbed within merely 48 hours.
SHIB price plummets
After a massive price surge between Friday and Saturday, when Shiba Inu added more than 19% to its price and burned one zero, a plunge followed, taking away 12.24% up to now. At press time, the major dog-themed cryptocurrency is trading at $0.00000896 on the Binance exchange.
The likely reasons for the surge were the SHIB market being oversold, large investor trust and the upcoming release of the Layer 2 blockchain Shibarium that is expected in roughly one week.
However, after a tremendous surge, many traders began selling to lock in their profits; therefore, the price went down.