A prominent Shiba Inu (SHIB) token holder, commonly referred to as a “whale,” has caught the attention of the crypto community by transferring a substantial amount of tokens. The whale recently moved four trillion SHIB tokens, equivalent to around $29.8 million, to eight new addresses. Notably, this is the first significant transaction made by the whale in nearly two years, with the previous one occurring 610 days ago.
The whale’s account currently holds a staggering 101.47 trillion SHIB tokens, which accounts for approximately 10.15% of the total supply. These impressive holdings estimate the whale’s worth to be approximately $756 million. Interestingly, the whale initially acquired an even larger amount of 103.33 trillion SHIB tokens, purchasing them for just 38 Ether (ETH) valued at $14,000 at the time.
Over time, the whale made some strategic moves, selling 603 billion SHIB tokens for 2,411 ETH, totaling $9.6 million. Additionally, they deposited 1.25 trillion SHIB tokens, approximately valued at $8.77 million, on the Coinbase cryptocurrency exchange in 2021.
Despite the recent transfer, the whale still retains a significant balance, holding 101.47 trillion SHIB tokens distributed across 23 wallets. This substantial sum of tokens translates to a current value of $756 million. Given the magnitude of the transfer, the crypto community is eagerly observing the whale’s next moves, as it could potentially impact the market dynamics surrounding SHIB. SHIB’s current trading price is $0.00000748, experiencing a slight uptick of 1.2%. The token’s market capitalization currently stands at an impressive $4.41 billion, Shiba Inu has become one of the top 20 largest digital assets on the market. solidifying its robust standing in the crypto market.
Shiba Inu (SHIB) is a meme coin that has gained popularity in the crypto market. It recently experienced a significant increase in market capitalization, soaring by half a billion dollars in less than a month. However, investing in meme coins carries risks, and caution should be exercised.
If we discuss the recent buying at the support and resistance levels, data from Intotheblock reveals that Shiba Inu is currently hovering near the support level of $0.000007. Approximately 19.3k addresses bought around 6.11 trillion Shiba Inu Tokens at this level. Conversely, at the resistance level of $0.000008, a significant number of addresses (31.64k) had previously purchased 6.51 trillion Shiba Inu Tokens.
According to the data provided by Intotheblock, it is evident that only 167.68 million addresses holding Shiba Inu are currently profitable, accounting for approximately 13.36% of the total holdings.
The majority of Shiba Inu holders, approximately 1.04 million addresses (83.03% of holdings), are experiencing losses. Furthermore, around 44.36k addresses (equivalent to 3.61%) are at the breakeven point. Overall, these statistics highlight the current state of Shiba Inu’s investor base and their positions in terms of profitability, losses, and breakeven points.