The biggest token holder recently moved a whopping 4 trillion SHIB tokens to different addresses in anticipation of the Shibarium mainnet launch happening in August.
A huge Shiba Inu (SHIB) holder, identified as “0x1406,” recently became active again after 157 days of inactivity. This whale distributed 4 trillion SHIB tokens, which were divided among eight new wallets. This whale is renowned for holding the largest amount of SHIB tokens.
This movement may be a response to the announcement made by Shiba Inu’s lead developer, Shytoshi Kusama, regarding the upcoming release of the Shibarium mainnet and the publication of the “Worldpaper” in August.
Shiba Inu Whale Moves 4 Trillion SHIB Tokens:
According to Lookonchain, a significant Shiba Inu token holder, known as a “whale,” recently transferred 4 trillion SHIB tokens valued at $29.8 million to eight new addresses. This whale currently holds an impressive 101.47 trillion SHIB tokens, which amounts to around $756 million. With 10.15% of the total SHIB supply, this whale stands as the largest holder of Shiba Inu tokens.
The whale had been inactive for 610 days without making significant transfers. However, during that time, it collected and distributed SHIB tokens to various addresses. This whale is recognized for purchasing SHIB tokens when their value drops, taking advantage of the price dips.
In 2020, the whale acquired a staggering 103.33 trillion SHIB tokens by spending 38 ETH (equivalent to $14,000). Later, in separate transactions, it sold 603 billion SHIB tokens for 2411 ETH, amounting to $9.6 million, and also sold 1.25 trillion SHIB tokens to Coinbase for $8.77 million in 2021. As of now, this whale retains a substantial amount of 101.47 trillion SHIB tokens, valued at approximately $756 million, which are spread across 23 different wallets.
According to Spot on Chain, the whale’s most recent transaction took place 157 days ago when it bought 7,049 SHIB tokens. The main wallet, known as “0x1406,” currently retains an impressive 6.20 trillion SHIB tokens, which are valued at approximately $46 million.
Following Shiba Inu’s lead developer, Shytoshi Kusama’s announcement, exciting news has emerged. Shytoshi Kusama confirmed the release of the highly anticipated L2 Shibarium and shared details about the Worldpaper. This announcement was made during the Blockchain Futurist Conference held in Toronto, Canada, scheduled for August 13-17, 2023.
In addition, the Shiba Inu ecosystem will include the Doggy DAO and the SHIB DOGGY DAO FOUNDATION. The foundation is responsible for implementing the decisions made by the DAO (Decentralized Autonomous Organization) and managing the assets owned by the DAO.
SHIB and BONE Prices Expected to Surge:
The price of SHIB has decreased by over 1% compared to its highest point in the past 24 hours and is currently trading at $0.00000746. The lowest recorded price during this period was $0.00000737, while the highest reached $0.00000759.
During the past month, the gas token of Shibarium called Bone ShibaSwap (BONE) has experienced a significant surge of 82%. Presently, BONE is being traded at $1.29, showing a 1% increase in the last 24 hours. The lowest recorded price within this period was $1.27, while the highest reached $1.31.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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