The biggest Shiba Inu (SHIB) token holder has executed a major trade.
According to blockchain analytics portal Lookonchain, the biggest holder of Shiba Inu (SHIB) tokens, called a “whale” in crypto terminology, shifted four trillion SHIB tokens (roughly $29.8 million) to eight different addresses today.
The whale hasn’t made a major purchase in over two years; the last one was 610 days ago. An estimated $756 million may be attributed to the account’s stated 101.47 trillion SHIB tokens (10.15 percent of the entire supply).
Lookonchain reports that the whale bought an even higher quantity of 103.33 trillion SHIB tokens for 38 ether (ETH), or around $14,000 at the time. In the future, 603 billion SHIB tokens were sold for 2,411 ETH, or $9.6 million, and in 2021, another 1.25 trillion SHIB tokens, or around $8.77 million, were placed on the Coinbase cryptocurrency market.
The whale still maintains a substantial balancing power, even after the latest transfer. The whale has transferred four trillion SHIB tokens but still has 101.47 trillion SHIB tokens across 23 wallets. This massive quantity of tokens is now worth about $756,000,000. The crypto community has taken notice of this massive SHIB token transfer, which may have an effect on market dynamics.
SHIB holders and investors will be keeping a close eye on the whale to see what they do with the tokens they just acquired.
According to data provided by CoinGecko, the Shiba Inu (SHIB), cryptocurrency is now trading at $0.00000748, representing a 1.2% increase over the last 24-hour period. SHIB’s market worth is over $4.41 billion now, indicating a solid position within the cryptocurrency industry.
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