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Whales Dump Record 1.2 Trillion SHIB, Here's How They Wanted to Benefit Here

Mon, 09/19/2022 - 14:42
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Yuri Molchan
Over past two days, ETH whales sold $13 million worth of Shiba Inu, 150 trillion SHIB dumped just recently
Whales Dump Record 1.2 Trillion SHIB, Here's How They Wanted to Benefit Here
Cover image via stock.adobe.com

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WhaleStats wallet tracker has announced on its website that within the past two days, the largest Ethereum addresses that hold Shiba Inu meme coins have sold a mind blowing amount of them – more than 1.2 trillion.

This is equal to $13,000,000 in fiat. Prior to that, these whales got rid of another trillion SHIB.

Whales dump 1.2 trillion SHIB on market

Per data recently published by WhaleStats, at the time of writing, the top 100 Ethereum wallets hold $127,185,426 worth of Shiba Inu. This is $13 million less than the $140 million in SHIB they held on Saturday. The crypto equivalent of the sold assets is a total of 1,207,056,638,811.

WhalesSHIBsold_009uihwqrjefr5
Image via WhaleStats

A similar amount of SHIB - 1,115,879,828,326 - was dropped on the market at the end of last week, as reported by U.Today over the weekend.

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SHIB loses 7% in one hour

Earlier today, the second biggest meme cryptocurrency formed a massive red candle on the hourly chart, losing slightly more than 7%.

The whales managed to sell their SHIB prior to this price fall, locking in their profits.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.