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The Shiba Inu [SHIB] community is eagerly awaiting the introduction of Shibarium. The highly anticipated layer-2 network is expected to bring significant developments. The community is not only expecting a substantial price surge but it is also speculating on the overall expansion of the network. In preparation for the launch, several large holders, commonly known as whales, have been making notable transactions. One particular whale recently became active and was observed engaging in transactions involving trillions of tokens, building anticipation for the Shibarium debut.
Earlier today, blockchain sleuth Lookonchain shared an intriguing discovery on Twitter. They revealed that a significant whale, possessing 101.47 trillion SHIB tokens with a value of $756 million, carried out a transfer of around 4 trillion SHIB tokens valued at $29.8 million. This transfer was distributed among eight different addresses. Notably, this particular whale had refrained from making substantial transfers for the past 610 days, making this recent activity significant.
It is important to mention that the whale got involved in the SHIB market at an early stage. The investor acquired a total amount of 103.33 trillion SHIB tokens, spending 38 ETH valued at $14,000. Subsequently, the whale proceeded to sell 603 billion SHIB tokens. Then, it received 2,411 ETH or $9.6 million in return. Furthermore, in 2021, the investor deposited an extra 1.25 trillion SHIB tokens into Coinbase. This investment had a market value of $8.77 million at the time.
In addition, the whale currently possesses a sum of 101.47 trillion SHIB, equivalent to about 10.15% of the overall supply. As a result, it is believed to be one of the largest holders of the meme coin.
Also Read: Shiba Inu: Shibarium Testnet Sets New Record
How is Shiba Inu faring at the moment?
At press time, Shiba Inu was trading at a rate of $0.000007498, experiencing a daily decline of 1.16%. Interestingly, during this downward trend, the presence of whales in the market appears to be more prominent. According to data provided by IntoTheBlock, there has been a significant surge of 293.24% in the number of large transactions taking place. As a result, the total volume of these large transactions in the SHIB market reached an impressive high of $19.55 million.
Also Read: Shiba Inu: Shibarium’s Release ‘Very Likely’ in August
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