Lookonchain, a prominent source of cryptocurrency news, has just revealed a mind-boggling transaction involving a massive whale in the crypto space. According to the tweet, this giant whale, rumored to be the largest holder of Shiba Inu (SHIB), has transferred a staggering 4 trillion SHIB tokens, equivalent to approximately $756 million, to eight brand-new addresses.
Remarkably, this transfer stands out due to the fact that the whale mentioned above had abstained from engaging in any significant transactions for an astonishing period of 610 days. The surprising move has had a profound impact on the cryptocurrency community, leading to speculation and intrigue regarding the motive behind this massive transfer.
To provide some context, it is crucial to review the significant transactions made by the whale. Initially, the whale obtained a considerable quantity of SHIB tokens, precisely 103.33 trillion, by exchanging only 38 ETH, which had a modest value of $14,000 at that time.
However, it wasn’t long before this mysterious whale decided to cash in on its investment. In a subsequent transaction, the whale sold a staggering 603 billion SHIB tokens, amounting to a mind-blowing sum of 2,411 ETH, equivalent to $9.6 million.
In addition, this whale made another noteworthy action in 2021, depositing a substantial amount of 1.25 trillion SHIB tokens valued at an impressive $8.77 million into Coinbase, a widely recognized cryptocurrency exchange. Clearly, this individual possesses tremendous wealth and has strategically navigated the cryptocurrency market, yielding significant profits.
Despite these notable transactions, the whale still retains jaw-dropping 101.47 trillion SHIB tokens, valuing an astounding $756 million. What’s intriguing is that this enormous sum is distributed among a total of 23 wallets, further adding to the enigma surrounding the identity and intentions of this powerful player in the crypto realm.
Shiba Inu (SHIB) Price Analysis
Shiba Inu (SHIB) is experiencing a slight decrease in its price. As of today, the token’s price stands at $0.000007483, with a 24-hour trading volume reaching $73 million with an 11% rise. The current market cap for Shiba Inu amounts to a staggering $4.4 billion.
Over the past 24 hours, its price has decreased by 1.30%. Looking at the seven-day chart, the price has experienced a decline of 1.30%. This decline comes as a notable development in the market, potentially indicating a shift in market sentiment, while the Fear & Greed Index is showing 57 (Greed).
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