A prominent Shiba Inu (SHIB) whale, which has been inactive for about six months, has recently reawakened. The movements of the whale are extremely interesting A lot of tokens have been activated. He also has a significant number of Shiba Inu in his stash. Let’s look at the details.
Resurrection of the dormant SHIB whale
The whale’s SHIB count is more than 100 trillion. That’s why his move draws so much attention. Sent over 4 trillion SHIBs to different addresses. Accordingly, trading activity seems to have resumed.
Blockchain analysis platform SpotOnChain brought up the issue. Accordingly, the Shiba Inu whale, identified by the wallet initials 0x140, awoke after a 157-day sleep period. The transported SHIB equates to more than $30 million to be exact.
Whale’s impressive actions
The first transactions from the whale involved the transfer of 107 Shiba Inu tokens to a specific address. This was followed by eight separate transfers of 500,000,000 Shiba Inu tokens to individual addresses in rapid succession.
Even after these significant transfers, there are still around 6.2 trillion SHIB tokens in the whale wallet. SpotOnChain reveals that the investor purchased a staggering 103 trillion SHIB tokens in 2020 using 37.81 ETH, worth around $12,500 at the time.
Significant profits and current assets
During the Shiba Inu price increase in 2021, the investor reportedly earned an estimated $18.49 million. SpotOnChain reports that the whale bought and sold approximately 1.9 trillion SHIB tokens in July 2021 at an average price of $0.00000969 on various exchanges including Binance, Coinbase and MEXC. Currently, the whale holds around 100 trillion tokens in multiple wallets.
Whale activity amid growing SHIB ecosystem
Significant transactions from the whale came after an 8,900% increase in the cryptocurrency’s burn rate. This spike comes after the Akai Token (AKAI) project moved 804 million tokens to a dead wallet in an unprecedented burning frenzy.
SHIB is gaining momentum with explosive growth in daily new addresses in Q2 2023. Accordingly, the return of this sleeping whale adds intrigue to the evolving landscape. cryptocoin.com When we look at it as a whole, this movement of the whale has an important meaning for the price. Because yesterday, after the court decision that XRP is not a security, significant increases occurred. SHIB rose by around 10% yesterday. It is possible to say that the movement of the whale is the result of this increase. SHIB price is trading at $0.00000794 at the time of writing.
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