A giant Shiba Inu whale holding over 101 trillion SHIB has recently moved 4 trillion SHIB tokens (about $29.8 million) to 8 new addresses.
According to the report, this is the whale’s first major transaction in nearly two years.
A giant whale with 101.47T $SHIB($756M, 10.15% of the total supply, probably the largest holder) transferred 4T $SHIB ($29.8M) to 8 fresh addresses today.
The whale has not made any large transfers for 610 days.https://t.co/3yewExpQa4 pic.twitter.com/LvVCKVnrSJ
— Lookonchain (@lookonchain) July 13, 2023
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A Further Look into the Dormant Whale’s Wallet
The whale’s wallet holds 101.47 trillion SHIB tokens, which is about 10.15% of the total supply. This is worth an estimated $756 million. The whale originally acquired even more SHIB tokens, 103.33 trillion, but has sold some of them over the years.
In 2021, the whale sold 603 billion SHIB tokens for $9.6 million and deposited 1.25 trillion SHIB tokens on the Coinbase cryptocurrency exchange.
Even after the recent transfer, the whale still has a significant balance. They still hold 101.47 trillion SHIB tokens, which are now distributed across 23 wallets. This is worth $756 million.
The large transfer of SHIB tokens has attracted attention from the crypto community. It is unclear what the whale intends to do with the tokens, but their actions will undoubtedly be watched closely by SHIB holders and investors.
The price of SHIB is currently trading at $0.00000748, which is a slight uptick of 1.2%. The market capitalization for SHIB is currently $4.41 billion.
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What does this mean for SHIB holders?
The whale’s motivation for moving the tokens is unknown. It is possible that they are simply consolidating their holdings or that they are preparing to sell them. However, it is also possible that they are planning to use the tokens to support the SHIB ecosystem.
Only time will tell what the whale’s plans are. However, the large transfer of tokens has certainly caused some excitement in the SHIB community. It will be interesting to see how the price of SHIB reacts in the coming days and weeks.
The impact of the whale’s transfer on the SHIB ecosystem
The whale’s transfer of 4 trillion SHIB tokens is a significant event for the SHIB ecosystem. The tokens represent a large percentage of the total supply, and their movement could have a major impact on the price of SHIB.
If the whale sells the tokens, it could cause the price of SHIB to drop. However, if the whale holds the tokens, it could help to stabilize the price or even cause it to rise.
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The whale’s actions will also be closely watched by other SHIB holders. If the whale sells the tokens, it could trigger a sell-off by other holders. However, if the whale holds the tokens, it could reassure other holders and help to prevent a sell-off.
The impact of the whale’s transfer on the SHIB ecosystem is still uncertain. However, it is a significant event that will be closely watched by SHIB holders and investors.
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