As a seasoned crypto investor with a keen interest in the memecoin space, I find the recent activity of the Shiba Inu whale utterly intriguing. The sudden purchase of 323 billion SHIB tokens, worth approximately $8 million, is a clear indication of renewed confidence and optimism within the community.
A sleeper Shiba Inu investor, who had been quiet on the cryptocurrency scene for years, suddenly stirred and bought an astounding sum of 323 billion SHIB tokens worth approximately $8 million. This unexpected action has left the crypto community in a state of astonishment.
The purchase underlines investors’ renewed enthusiasm and trust in the meme token, given favorable market circumstances. This transaction marks the first movement from the large investor wallet since 2021, coinciding with a time when SHIB was priced at $0.000025.
Shiba Inu Whale Stack Up Holdings
As a crypto investor, I’ve come across an interesting development that was recently highlighted by the widely used on-chain tracker Spot On Chain on the X platform, which was previously known as Twitter. Based on data from Etherscan, this latest acquisition involved 156 distinct large transactions.
As an analyst, I’d rephrase it as follows:
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.
The buyer who recently purchased SHIB from the whale using 0.028 ETH, or around $112,000, according to Spot On Chain, still holds a substantial amount of Ethereum worth about $4.45 million. This implies that there’s a possibility the buyer could make further purchases of SHIB.
As a market analyst, I’ve observed an uptick in investor enthusiasm towards meme coins, with Shiba Inu (SHIB) being no exception. Over the past week, this sector has witnessed noteworthy adoption and attention from crypto investors as well as prominent figures in music and entertainment industries. Consequently, a large purchase of SHIB tokens might have been made by an investor who jumped back into the market to capitalize on this renewed optimism.
SHIB Whales On A Buying Spree
As an analyst, I’ve observed some significant activity from Shiba Inu (SHIB) whales in the market recently. According to data from crypto analytics platform IntoTheBlock, these large investors have been actively purchasing SHIB over the past month. This trend suggests a strong belief in SHIB’s future potential and long-term prospects.
Within the past month, this crypto asset emerged as a favored coin among large-scale investors, or “whales,” due to certain factors. Consequently, they accumulated approximately 30 trillion SHIB through significant transactions.
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2024-06-05 14:11