Shiba Inu Whale Returns: 323 Billion SHIB Bought After Years Of Inactivity | Bitcoinist.com



In
a
surprising
move
that
has
caught
the
attention
of
the
cryptocurrency
community,
a
dormant
Shiba
Inu
whale
has
awakened
after
several
years
of
inactivity
to
purchase
a
staggering
323
billion
SHIB
tokens,
valued
at
$8
million.


This
acquisition
highlights
the
renewed
investor
interest
and
confidence
in
the
memecoin
amid
favorable
market
conditions.
Also,
it
represents
the
first
activity
from
the
whale
wallet
since
2021,
which
happened
when

How To Get Free Crypto  


SHIB


was
trading
at
$0.000025.


Shiba
Inu
Whale
Stack
Up
Holdings


The
development
was


reported


by
popular
on-chain
tracker
Spot
On
Chain
on
the
X
(formerly
Twitter)
platform.
According
to

data
from
Etherscan,
this
recent
acquisition
was
executed
in
156
distinct
large
transactions.


At
the
time
of
the
initial
report,
the
buyer
had
exchanged
about
1,000
Wrapped
Ethereum
(WETH),
estimated
at
$3.83
million,
for
149.3
billion
SHIB
in
the
last
hour.
However,
the
whale
address
continued
its
buying
frenzy
acquiring
an
additional
173
billion
SHIB,
bringing
the
total
tokens
to
323
billion
SHIB.


In
under
three
hours,
the
address
exchanged
2,188
WETH
for
323
billion
Shiba
Inu
tokens,
valued
at
$8.29
million,
before
the
end
of
the
156
transfers.


Spot
On
Chain
also
noted
that
the
last


Shiba
Inu


transaction
carried
out
by
the
whale
3
years
ago
before
going
dormant
was
selling
over
167
billion
SHIB,
valued
at
$6.13
million
at
the
time.


Specifically,
these
coins
were
acquired
from
a
super
early
purchaser
seen
buying
5.16
trillion
SHIB
for
just
45
Ethereum
(ETH)
worth
$63,700
in
2021.
A
few
months
later
after
obtaining
the
167
billion
SHIB
in
that
same
year,
the
address
staked
every
token.


Furthermore,
3
months
later,
on
October
24,
2021,
the
buyer
unstacked
the
tokens
and
earned
an
extra
12.9
million
SHIB.
However,
on
the
same
day,
the
whale
went
on
to
sell
off
every
one
of
the
167
billion
Shiba
Inu
tokens.


Although
there
are
no
further
activities
from
the
whale
regarding
the
recently
acquired
SHIB,
Spot
On
Chain
has
highlighted
that
the
buyer
might
move
on
to
purchase
more
SHIB,
as
his
wallet
still
holds
a
whopping
1,169
WETH,
worth
approximately
$4.45
million.


Given
the
renewed
optimism
surrounding
the
meme
coin
sector,
the
buyer
must
have
returned
to
acquire
this
massive
amount
of
SHIB.
Over
the
past
week,
the
meme
coin
sector
has
garnered
significant
adoption
and
interest
from
crypto
investors
and
even
top
figures
in
the
music
and
entertainment
industry.

Coinbase Banner  


SHIB
Whales
On
A
Buying
Spree


It
is
important
to
note
that


SHIB
whales


have
been
on
a
buying
spree
for
a
while
now.
Last
month,
crypto
analytics
platform
IntoTheBlock,


revealed


that
Shiba
Inu
whales
have
been
steadily
gathering
SHIB,
indicating
a
high
level
of
confidence
in
SHIB’s
long-term
prospects.


Due
to
this,
the
crypto
asset
became
one
of
the
most
traded
coins
by
whales
within
the
month,
having
amassed
around
30
trillion
SHIB
through
large
whale
transactions.

SHIB
trading
at
$0.00002615
on
the
1D
chart
|
Source:
SHIBUSDT
on

Tradingview.com

Featured
image
from
iStock,
chart
from
Tradingview.com

Go to Source
Author: Godspower Owie


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