Recently, whale alarm has started to sound especially for two altcoin projects. According to on-chain data, whales, who are large investors, have recently bought or are planning to sell altcoins by performing various transactions. Here are the details…
Altcoin whales do not stop: Giant whale dumped $ 6 million SHIB
Shiba Inu, a meme-based cryptocurrency, has suffered a hefty sale of a whale. It has managed to hold its price steady despite recent events involving a large whale dumping $6 million worth of SHIB. Etherscan.io data reveals that the 29th largest Shiba Inu whale has dumped 538 billion SHIB worth $6.07 million in five key transactions in the past twelve days.
This investor, one of the largest Shiba Inu whales, started his selling spree on April 2 by selling 200 billion SHIB worth $2.25 million in a single transaction. The whale later sold another 100 billion SHIB worth $1.12 million on April 5. This was followed on April 7 by 88 billion SHIB sales worth $993.5k. Despite the large volumes already sold, the whale continued to sell another 72 billion SHIB on April 11, worth $812,880.
Currently, the sale of 78 billion SHIB worth $880,620 stands out in the last transaction it made about two days ago. Despite heavy sales, the whale still has 3.59 trillion SHIB in its wallet, worth $40.64 million.
Sales came with the hack
The sales follow a recent hack on Bitrue, a leading Singapore-based exchange, in which approximately $1.9 million in digital assets were lost, including $172.55 billion SHIB worth $22 million. cryptocoin.com As we reported, the hacker sold 22.55 billion SHIB worth over $254k in six different transactions. The most recent transaction was at 05:34 today, with 2 billion SHIB sold. Despite these events, the price of the Shiba Inu continued to rise. CoinGecko data reveals that the price of SHIB has increased by 6.6 percent in the last 14 days and by 2.9 percent in the last week.
Arbitrum whale sells for $18 million
Meanwhile, according to Lookonchain data, a giant ARB whale address transferred all 11 million ARBs at its address, worth about $18 million, to Binance five hours ago. The ARB acquisition cost for this address was reported to be $13.55 million, with an average purchase price of approximately $1.24 per ARB. If the address owner sells this address for $1.64, he will make a profit of $4.54 million.
It is worth noting that whales have a significant impact on the cryptocurrency market and their trading activity can cause significant price fluctuations. Although the Shiba Inu whale has sold a significant amount of SHIB, the coin’s price has remained relatively stable. However, we will see how the ongoing selling events and the Bitrue hack will affect the long-term price of SHIB. As for ARB, the recent transfer of 11 million tokens to Binance by a giant whale address has sparked curiosity as to whether the cryptocurrency will enter the selling process.
Contact us to be instantly informed about the last minute developments. twitter‘in, Facebookin and InstagramFollow and Telegram And YouTube join our channel!
Risk Disclosure: The articles and articles on Kriptokoin.com do not constitute investment advice. Bitcoin and cryptocurrencies are high-risk assets, and you should do your due diligence and do your own research before investing in these currencies. You can lose some or all of your money by investing in Bitcoin and cryptocurrencies. Remember that your transfers and transactions are at your own risk and any losses that may occur are your responsibility. Cryptokoin.com does not recommend buying or selling any cryptocurrencies or digital assets, nor is Kriptokoin.com an investment advisor. For this reason, Kriptokoin.com and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, assets or services in this article.
Disclaimer: Advertisements on Kriptokoin.com are carried out through third-party advertising channels. In addition, Kriptokoin.com also includes sponsored articles and press releases on its site. For this reason, advertising links directed from Kriptokoin.com are on the site completely independent of Kriptokoin.com’s approval, and visits and pop-ups directed by advertising links are the responsibility of the user. The advertisements on Kriptokoin.com and the pages directed by the links in the sponsored articles do not bind Kriptokoin.com in any way.
Warning: Citing the news content of Kriptokoin.com and quoting by giving a link is subject to the permission of Kriptokoin.com. No content on the site can be copied, reproduced or published on any platform without permission. Legal action will be taken against those who use the code, design, text, graphics and all other content of Kriptokoin.com in violation of intellectual property law and relevant legislation.