Whale with $756 Million Worth of SHIB Cryptocurrency Potentially Selling – Impacts Millions of Shiba Inu Holders
In a surprising development, a large whale investor holding a massive amount of Shiba Inu (SHIB) cryptocurrency has transferred a significant portion of their holdings. The whale, who holds 101.47 trillion SHIB, equivalent to $756 million and 10.15% of the total supply, transferred 4 trillion SHIB ($29.8 million) to eight new addresses. This is the first major transfer from this account in 610 days, causing speculation and intrigue in the crypto community.
The whale initially purchased 103.33 trillion SHIB with just 38 ETH ($14K) and later sold 603 billion SHIB for 2,411 ETH ($9.6M). They also deposited 1.25 trillion SHIB ($8.77M) to Coinbase in 2021. Despite these transactions, the whale still holds a massive amount of SHIB, now distributed across 23 wallets.
The whale’s transactions can be tracked on Etherscan, providing transparency and insight into these significant movements of SHIB.
In other news, Shiba Inu (SHIB) has seen an 8% price increase over the last seven days, outperforming Dogecoin (DOGE), another popular meme coin, which gained 6% over the same period. Despite a year-to-date change of -0.86%, SHIB’s market capitalization stands at $4.74 billion. Shiba Inu is often compared to Dogecoin due to its meme currency status and dog-themed branding and has a viral following of over 1.2 million on Twitter.
Social media sentiment around Shiba Inu has been mostly neutral, with 2.17% of tweets expressing bullish sentiment and 4.62% expressing bearish sentiment. The majority of tweets (93.21%) were neutral. On June 20, 2023, Shiba Inu was mentioned in 15,254 social media posts on Twitter and Reddit, a 3.49% increase compared to the previous day.
Currently, Shiba Inu’s price is $0.000007172, with a 24-hour trading volume of $202.99 million and a circulating supply of 589.349 billion SHIB.