An unidentified Shiba Inu whale made a big impact yesterday by purchasing 4 trillion dollars. The mighty whale accumulated 4 trillion SHIB tokens and spent $42 million over the weekend. While the whales remained quite inactive in the 4th quarter of 2023, they managed to compensate for this deficiency with the purchases they made in a short time. Moreover, these whales sent a positive signal by continuing to hold their assets.
Whale Alert was the first platform to reveal the transaction: “Approximately 24 hours ago, a jaw-dropping 4,238,953,460,450 SHIBs moved between wallets labeled ‘unknown’: Interestingly, no exchange-owned wallets were involved in the transaction.
Shiba Inu Finally Delivered the News That Has Been Expected for Months: Metrics Are at Historical Highs Again!
Whales Go on a Buying Spree Ahead of the Giant Burn
As Koinfinans.com reported, the Shiba Inu team confirmed last week that Shibarium will begin burning SHIB tokens starting in January 2024. The mega whale is most likely relying on SHIB burns and therefore took an early entry position. If Shibarium manages to burn trillions of tokens every year, the whale could likely see the conglomerates bubble.
If trillions of tokens are sent to the dead wallet, SHIB may have a chance to sustainably increase its price. However, this depends on the scale of the burn, as burning millions or billions of tokens will not make SHIB scarce.
The Shiba Inu was trading at $0.00000975 at press time and was down nearly 3% in 24-hour daily trading. SHIB has also fallen close to 89% from its all-time high of $0.00008616 reached in October 2021.