Shiba Inu Whale Acquires Trillions of SHIB Tokens During Price Decline

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  • According to information from Etherscan.io, a significant holder of Shiba Inu cryptocurrency has obtained a massive amount of 1.50 trillion SHIB tokens in the past day.
  • The total value of this transaction is estimated to be around $10.02 million, and it was received from an unidentified wallet.

According to information from Etherscan.io, a significant holder of Shiba Inu cryptocurrency has obtained a massive amount of 1.50 trillion SHIB tokens in the past day. The total value of this transaction is estimated to be around $10.02 million, and it was received from an unidentified wallet. The acquisition took place in a single transaction approximately four hours before the time of this report.

Since May 16, this particular large holder, known as a whale, has been actively involved in Shiba Inu cryptocurrency transactions. In total, they have transferred an astonishing amount of 20 trillion SHIB tokens, which is valued at approximately $176.80 million. These transfers were made in four separate transactions and were sent to a wallet of unknown origin.

Over the past seven days, the mentioned wallet address has accumulated a substantial amount of Shiba Inu tokens, specifically 2 trillion SHIB, which is valued at approximately $13.42 million. At the time of this report, the total balance held by this whale stands at 5.28 trillion SHIB, worth around $35.49 million.

The interest of this unidentified whale in Shiba Inu has grown stronger as the price of SHIB has experienced a decline, nearing a crucial support level of $0.00000549 on the daily chart. Currently, Shiba Inu is trading 23.4% lower than its average price over the past thirty days and 16% lower compared to the past seven days.

In addition, there are significant developments taking place in the Shiba Inu ecosystem. Shytoshi Kusama, the lead developer of Shiba Inu, has hinted at the potential launch of the highly-anticipated Shibarium mainnet in early July during a telegram chat, as reported by The Crypto Basic. Furthermore, Lucie, an official from the Shiba Inu team, shared her perspective on the optimal timing for the Shibarium launch. According to Lucie, the Shibarium mainnet is likely to be released between the second and third quarters of this year, although she couldn’t confirm the exact timeline.

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