Three unidentified Shiba Inu whales have acquired an astonishing 869 billion SHIB tokens from Coinbase and Upbit within a 24-hour period. As the cryptocurrency market braces for a potential bull run and a subsequent rise in digital asset prices, these whales have turned their attention to meme-based tokens like Shiba Inu (SHIB). The accumulation spree by these anonymous investors has been tracked by leading crypto data provider Arkham Intelligence. Their data reveals that these entities have amassed a total of 869,458,197,872.98 SHIB through three separate transactions. At the current market value, these tokens are worth a cumulative $22.12 million.
According to Arkham Intelligence, these unknown whales withdrew the 869 billion SHIB from two prominent crypto exchanges, namely Coinbase and Upbit. The oldest transaction occurred precisely 21 hours ago and involved a previously unused wallet with the address “0xad3A…3f8Ba.” This wallet withdrew a staggering 438.23 billion SHIB, which is equivalent to $11.17 million, from Coinbase. Prior to this significant withdrawal, the wallet had no previous transaction history, indicating that it is a newly created wallet.
One hour later, Arkham Intelligence detected another substantial movement of Shiba Inu tokens. An unidentified investor transferred 221.03 billion SHIB, valued at $5.63 million, from Coinbase to a fresh wallet with the address “0xFD1B…2FA18.” This transaction marks the first recorded activity on this wallet, according to Arkham Intelligence.
In the final transaction, an anonymous Shiba Inu wallet with the address “0x3f15…F9329” received a massive 210.19 billion SHIB, worth $5.32 million, from the Upbit exchange around 11 hours ago. Unlike the previous two wallets, this particular wallet has been involved in multiple Shiba Inu-related transactions in the recent past.
Interestingly, shortly after withdrawing the 210.91 billion SHIB from Upbit, this wallet transferred nearly 10 billion SHIB to various untagged wallets on exchanges such as Binance, OKX, Bybit, and HTX.
The accumulation of Shiba Inu tokens by these whales indicates their anticipation of a potential price rally for this particular asset. Numerous crypto analysts have recently made positive forecasts for Shiba Inu, with some projections suggesting a surge towards the $0.001 level. Achieving this target would require Shiba Inu to rally by an astonishing 3,829% from its current price.
At present, Shiba Inu has experienced a daily increase of 0.9%, bringing its price to $0.00002545. Additionally, the meme-based token has witnessed an 8.6% surge over the past week.
It is important to note that this article is for informational purposes only and should not be considered financial advice. The opinions expressed in this piece are the author’s own and do not necessarily reflect the views of The Crypto Basic. Readers are advised to conduct thorough research before making any investment decisions, and The Crypto Basic assumes no responsibility for any financial losses incurred.