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Shiba Inu Whale Transfers Almost $500 Million Worth of Tokens

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Sat, 12/11/2021 - 18:56
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Arman Shirinyan
A whale that previously bought a significant amount of SHIB tokens has transferred his funds to another wallet
Shiba Inu Whale Transfers Almost $500 Million Worth of Tokens
Cover image via stock.adobe.com

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According to the transaction that appeared on the WhaleStats tracker, a Shiba Inu whale labeled as "Hulk" has transferred his own funds to another wallet. One transaction was worth more than $470 million.

The large transfer

The transaction appeared on SHIB's blockchain yesterday when the "Hulk" wallet moved almost all of his funds to another wallet, leaving for himself only $4 million worth of tokens.

The new wallet that received the majority of the "Hulk's" funds is currently holding more than $470 worth of Shiba Inu tokens. The second wallet that received the funds was created only for that reason due to not receiving or sending any transactions except the $470 million one.

The first wallet that previously held almost half a billion worth of Shiba Inu has been constantly receiving various transactions, including smaller Shiba Inu transactions worth a couple thousand tokens.

Who might the "Hulk" wallet be?

It is extremely hard to determine the owner of the wallet due to the decentralization of the network, but some users and Shiba Inu community members assumed that the wallet might be tied to a cryptocurrency exchange that bought a large number of tokens to later launch operations with it.

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Some users even assumed that the large purchase was made by the Robinhood trading app that previously teased the listing of the famous meme-token widely endorsed by the crypto community.

At press time, SHIB token trades at $0.000034 with 2% of daily growth on the market.

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About the author

Arman Shirinyan is a trader, crypto enthusiast and SMM expert with more than four years of experience.

Arman strongly believes that cryptocurrencies and the blockchain will be of constant use in the future. Currently, he focuses on news, articles with deep analysis of crypto projects and technical analysis of cryptocurrency trading pairs.