A new whale address has accumulated over 4 trillion SHIB tokens, worth $32.8 million. Following the purchase, SHIB Saw about a 6% price surge, indicating the impact of the massive purchase of tokens by the anonymous whale.
The transaction, which was first reported by Whale Alert, took place on July 14 at 11:58 UTC. The funds were transferred from an exchange wallet to a newly-activated address.
It should be noted that the recipient’s address has not been used in any previous transactions. This suggests that the whale is a new investor in SHIB.
🚨 🚨 4,113,777,233,445 #SHIB (32,862,223 USD) transferred from unknown wallet to unknown wallethttps://t.co/Xu48bD6mLn
— Whale Alert (@whale_alert) July 14, 2023
The data from Ethereum Explorer reveals that the transaction involved exactly 4.114 trillion SHIB tokens.
The reason for the purchase is unknown, but it is possible that the whale is accumulating SHIB in anticipation of further price gains as the Shiba Inu community awaits the launch of Shibarium on the mainnet.
Whales are often seen as market movers, so their activity can have a significant impact on the price of a cryptocurrency.
Read Also: Analyzing Shiba Inu (SHIB) Potential Millionaire-Making Ability at Current Prices
The recent whale activity in the SHIB ecosystem is bullish, as it suggests that there is strong institutional interest in the dog-themed digital asset. This could help to drive prices higher in the coming days and weeks.
Other recent whale movements in the SHIB ecosystem include:
-
An old whale address moved 4 trillion SHIB tokens after 157 days of dormancy.
-
14 separate whales moved over $1 million worth of SHIB as of July 6.
-
Another whale address amassed 152 billion Shiba Inu tokens worth $1.22 million in a single transaction.
The purchase also comes at a time when the SHIB ecosystem is benefiting from the broader market rally, which was triggered by the favorable ruling in the Ripple vs. SEC lawsuit.
The SEC ruling has led to increased confidence in the cryptocurrency market, and this has helped to drive prices higher. SHIB is one of the cryptocurrencies that has benefited from this rally, and the recent whale activity suggests that there is further upside potential for the token.
Follow us on Twitter, Facebook, Telegram, and Google News
