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Trillions of SHIB Moved by Mysterious Whale, While SHIB Enters Unusual Top

Thu, 12/08/2022 - 14:06
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Gamza Khanzadaev
Almost 3 trillion Shiba Inu tokens moved by anonymous whale as price turns green
Trillions of SHIB Moved by Mysterious Whale, While SHIB Enters Unusual Top
Cover image via stock.adobe.com

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As revealed by Whale Alert, a portal that tracks large movements of funds in the crypto space, an unknown whale has moved almost 3 trillion Shiba Inu tokens between wallets, with the equivalent value of these SHIBs at $26.3 million. Both addresses are not overly active and are relatively recent. There are no other tokens on these wallets other than Shiba Inu.

The movement of trillions of SHIB came against the backdrop of two curious developments concerning the token directly.

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Shiba Inu (SHIB) price action

Thus, the price of Shiba Inu token showed and continues to show interesting dynamics, trading in the green zone, after two days of decline. Reaching the upper boundary of the price range around $0.0000095, SHIB made a false break and rolled back down, but not very far.

Source: TradingView

This can be considered a first attempt to get out of the so-called bottom. Recall that it was this zone, with the lower boundary at $0.0000085, that became the site of SHIB accumulation after the collapse of FTX.

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Who is selling SHIB?!

The second development was SHIB's inclusion in the top 10 most sold crypto assets, according to WhaleStats, over the past seven days. If the portal's data is accurate, there are currently 7.7 trillion SHIB in the accounts of the top 100 Ethereum whales, equivalent to $70.73 million.

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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.