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Whales Grab 1.6 Trillion SHIB, Here’s What Made Them Do It

Tue, 09/13/2022 - 16:05
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Yuri Molchan
Recent data from Etherscan shows that ETH whales have purchased more than 1.6 trillion Shiba Inu
Whales Grab 1.6 Trillion SHIB, Here’s What Made Them Do It
Cover image via stock.adobe.com

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Twitter user @shibaplay_ has shared that over the past 24 hours, several massive chunks of the second largest canine coin Shiba Inu have been shifted on the Ethereum chain, totaling more than 1.6 trillion SHIB.

Earlier today, SHIB’s price made a big plunge, losing more than 6 percent of its value, which whales immediately took advantage of.

Whales buy and transfer 1.6 trillion SHIB

The aforementioned Twitter user shared links to Etherscan, drawing attention to these eye-popping SHIB transfers.

50,656,885,934 SHIB was bought by an anonymous whale on Coinbase and withdrawn to his cold wallet. However, Etherscan shows, that in fact this whale bought three large chunks of SHIB, aside from this one – 80,960,690 SHIB, 130,204,348 SHIB and 8,756,682.

SHIB_walletsETHscan0987u2e4wret
Image via Twitter

Another substantial lump of SHIB – 199,999,679,531 – was bought on Binance and also moved to a cold wallet by another investor.

The biggest amounts of SHIB in this series of transfers were shifted between anonymous wallets – 417,167,400,278 and a mind-blowing 796,958,896,631 SHIB. They are evaluated at $5,118,644 and $9,730,868, correspondingly. The second transfer was worth approximately one million USD more at the time of the purchase due to a higher SHIB exchange rate against the USD.

SHIB price drops 6%

Earlier today, the canine coin lost 6 percent of its value, dropping in a single red candle within an hour. The 20-percent rally that started a few days earlier has ended abruptly after a nearly 20-percent price surge.

The latter is likely down to the overall recovery of the cryptocurrency market when the locomotive crypto, Bitcoin, topped the $22,000 level.

SHIB_plunge_00989uw4iref09878y
Image via TradingView

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SHIB loses top 4 spot in biggest ETH wallets

According to data shared on WhaleStats website, the second most popular canine crypto SHIB has dropped from the top 4 position among Ethereum whales’ holdings to the sixth spot.

At the time of this writing, the largest 100 wallets on Ethereum contain $152,100,683 worth of Shiba Inu. This comprises 3.89 percent of their portfolio. LOCUS and stETH tokens are right ahead of SHIB, holding positions number 5 and 4.

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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.