This week, a massive, unknown floating item was found in the Shiba Inu (SHIB) habitat. Many of the market’s larger investors refer to it as a “whale.”
There are plenty of these organisms in the Shiba Inu habitat. In the case of all Shiba Inu tokens, for instance, the concentration of addresses holding at least 1% of the outstanding supply is 59.95%, or 589.67 trillion SHIB, according to IntoTheBlock. To be fair, though, 410.42 trillion tokens are burnt since they are kept on a dead address.
The address “0x78342,” which took in more over 1 trillion SHIB over the course of the previous seven days, was last week’s hero.
This is not the anonymous investor’s first venture into the well-known meme-inspired cryptocurrency; his overall SHIB portfolio value, including acquisitions made throughout the week, was 1.486 trillion tokens. This volume is equal to $20.16 million at the current Shiba Inu price of $0.0000135.
Furthermore, it should be mentioned that the majority of the Shiba Inu tokens came from another unknown wallet, “0x826c,” to this unknown wallet. It’s interesting to see that this address still possesses $18.87 million, or 1.395 trillion SHIB.
It is interesting to consider what this partial accumulation and switching of wallets across addresses signifies.
One major investor amasses millions of dollars’ worth of SHIB. Alternatively, these tokens originate from a further unidentified address—not the exchange—which suggests that accumulation isn’t the case here; rather, it’s just a huge, unknown player arranging his Shiba Inu wallets.
