Shiba Inu Whale With Over 100 Trillion $SHIB Wakes Up After Months of Dormancy
A massive Shiba Inu ($SHIB) whale that has seemingly been dormant for nearly half a year has recently reawakened and resumed its trading activity, moving over 4 trillion SHIB to a number of different addresses out of its over 100 trillion war chest.
According to blockchain analytics platform SpotOnChain, the SHIB whale, which was identified by the initials in its wallet – 0x140 – woke up after 157 days of dormancy and moved over $30 million worth of the meme-inspired cryptocurrency to eight wallets.
The whale’s first transactions saw a relatively modest volume of 107 SHIB tokens transferred to a specific address. This was followed by eight separate transfers of 500,000,000,000 Shiba Inu tokens to individual addresses at brief intervals.
⚠️ Watch out for its next move! pic.twitter.com/vCMTV5JcTe
— Spot On Chain (@spotonchain) July 13, 2023
Despite these substantial transfers, the whale wallet still retains about 6.2 trillion SHIB in its wallet. According to SpotOnChain, the investor is known for having used 37.81 ETH back in 2020, then worth around $12,500, to purchase a staggering 103 trillion SHIB tokens.
The investor profited significantly during the SHIB price surge in 2021, earning an estimated $18.49 million. SpotOnchain reported that the whale traded roughly 1.9T SHIB on different exchanges, including Binance, Coinbase, and MEXC, at an average price of $0.00000969 in July 2021, and still holds around 100 trillion tokens across several wallets.
The whale’s massive transactions come after the burn rate of the meme-inspired cryptocurrency recently surged over 8,900% in just 24 hours after a project known as Akai Token ($AKAI) moved 804 million tokens to a dead wallet in a historic burning frenzy.
As CryptoGlobe reported, the meme-inspired cryptocurrency has been seeing significant growth over the last few months, to the point that data shows explosive growth of its daily new addresses on the network in the second quarter of the year.