Shiba Inu whales have persistently been engaged in substantial transfers of SHIB tokens, with Whale Alert documenting the movement of an enormous $31.6 trillion worth of SHIB.
In a surprising turn of events, an undisclosed whale executed a staggering transfer of Shiba Inu (SHIB) tokens. As reported by Whale Alert, this anonymous user moved an impressive 4,575,030,677,374 (4.57 trillion) SHIB tokens to an undisclosed wallet. According to Whale Alert’s data, the value of this transaction amounted to an astonishing $31,629,474 ($31.6 million). Consequently, it suggests that this whale carried out the transfer at an average price of $0.00000688.
Significantly, data obtained from Etherscan revealed that the sender’s account was left with a balance of $0. However, the receiving address retained the entire quantity of SHIB tokens it received. This transfer of 4.57 trillion SHIB tokens, which occurred yesterday, is the latest in a series of whale transactions reported by The Crypto Basic. It’s worth noting that this transaction follows several other substantial SHIB movements reported earlier this month.
Just this week, an anonymous whale made a transfer of over 4.58 trillion SHIB ($32.4 million) to an undisclosed address. In a similar development, an unidentified whale also made a significant purchase of 4.6 trillion SHIB tokens, valued at $31.38 million, on October 12. Additionally, another whale took advantage of the discounted price of the asset to acquire an impressive 4.58 trillion SHIB tokens ($33.13 million) on October 6.
Shiba Inu’s Token Loses 2.3% in Value in 24 Hours
Per CoinGecko’s data, Shiba Inu saw a surge, reaching a 24-hour peak of $0.00000708, but subsequently dropped to its lowest point within the day at $0.00000691. As of the latest available data, SHIB has incurred a 2.3% decrease in the past 24 hours, bringing its value to $0.00000691.
Given the recent decline in SHIB’s price, it’s conceivable that a large holder took advantage of the reduced value to acquire more of the asset.
The two addresses involved in this transaction could potentially belong to a single entity. Apart from trading activities, cryptocurrency enthusiasts often transfer their assets between two addresses for various reasons, with security concerns being a prominent one. Enthusiasts opt for such actions when they suspect that the wallet holding their assets may have been compromised.