144.5 Billion SHIB in Single Hour – What’s Happening?

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As a seasoned crypto investor with a knack for spotting trends and whale activities, this latest move by the mysterious meme coin whale has piqued my interest. I remember quite vividly the impressive returns this entity reaped from SHIB and WBTC earlier this year, and it seems they’re back for more.

Today, it was disclosed by Analytics X account @spotonchain that a significant investor, often referred to as a “whale,” bought approximately 150 billion Shiba Inu meme tokens. This whale re-entered SHIB as a strategic investment choice, having made substantial profits in dollars from it earlier this year.

Instead of just SHIB, this enigmatic entity also acquired several hundred billion PEPE and approximately half a million NEIRO.

Whale goes on huge meme coin buying spree

In a recent disclosure, Spotonchain has announced that the previously mentioned whale utilized DAI stablecoins amounting to $12.8 million for a significant crypto purchase. This includes approximately 114.5 billion SHIB worth nearly $4 million, 326.3 billion PEPE valued at around $7.97 million, and 550.1 million NEIRO, equivalent to approximately $952,000.

This tremendous meme coin purchase was made within a single hour, using nine digital wallets that belong to the whale.

According to the source, the whale currently has a little over 7 million DAI on hand, and Spotonchain reports that they are continuing their purchasing streak.

The entity that earned $8.66M from $SHIB and $WBTC earlier this year is now buying $PEPE, $SHIB, and $NEIRO.

In the past hour, it has spent $12.8M $DAI on these tokens across 9 wallets:
• 326.3B $PEPE ($7.97M)
• 144.5B $SHIB ($3.89M)
• 550.1M $NEIRO ($952K)

The entity still…

— Spot On Chain (@spotonchain) December 10, 2024

In the course of my current research, I’ve come across an interesting finding. On March 31st this year, as indicated by a tweet I’ve referenced, a certain entity reportedly disposed of approximately 533.6 billion SHIB coins. Remarkably, within less than a month of holding these tokens, they managed to accrue a realized profit of around $8.24 million.

According to U.Today’s recent report, a massive whale astounded Binance, the world’s leading cryptocurrency exchange, by depositing an impressive 121.75 billion PEPE tokens. This deposit resulted in a substantial profit of approximately $2.13 million for the anonymous investor.

SHIB burns skyrocket 12,670%

Fresh updates about Shiba Inu (SHIB) are emerging, with the Shibburn tracker reporting that more and more members of the SHIB community are removing their meme tokens from circulation permanently, reducing its overall supply.

Over the last 24 hours, our community successfully incinerated approximately 52 million Shiba Inu coins. This significant burning event has increased the burn rate of the meme token by an astonishing 12,670.70%.

In a list of burns, the biggest transfers accounted for approximately 40 million SHIB tokens, while the second and third largest transactions involved 9.7 million and 1.46 million SHIB coins respectively.

To date, the Shiba Inu community has successfully gotten rid of approximately 410 trillion Shiba Inu tokens collectively. A significant portion of this was due to the work of Ethereum‘s leader Vitalik Buterin, who incinerated roughly half a quadrillion SHIB in May 2021 following a gift he received from the anonymous creator of the coin, Ryoshi.

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2024-12-10 14:51