Another Unknown Shiba Inu Whale Moves 4.5 Trillion SHIB As Price Dips 2.3%

Shiba Inu whales have continued to move large amounts of SHIB tokens, as Whale Alert reports the movement of a massive $31.6 trillion worth of SHIB. 

In a startling development, an anonymous whale moved a jaw-dropping amount of Shiba Inu (SHIB) tokens. 

4.57T SHIB on the Move

According to data shared by Whale Alert, the anonymous user moved a whopping 4,575,030,677,374 (4.57 trillion) SHIB tokens to an unknown wallet. 

🚨 🚨 4,575,030,677,374 #SHIB (31,629,474 USD) transferred from unknown wallet to unknown wallethttps://t.co/XGDF6Frfgi

— Whale Alert (@whale_alert) October 17, 2023

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Per Whale Alert, the fund was valued at an astounding $31,629,474 ($31.6 million). Hence, it implies that the whale moved the token at an average price of $0.00000688. 

Notably, data from Etherscan showed that the transaction left the sender with a $0 balance. However, the recipient address is still holding the total amount of SHIB it received.  

Other Large SHIB Movements This Month 

The 4.57T SHIB moved yesterday marks the latest whale transaction reported by The Crypto Basic. It is interesting to note that the transaction follows a series of large SHIB movements reported this month. 

Earlier this week, an anonymous whale transferred over 4.58 trillion SHIB ($32.4 million) to an unknown address. In a similar development, an unidentified whale also purchased a massive 4.6 trillion SHIB tokens valued at $31.38 million on October 12. 

Furthermore, a whale took advantage of the asset’s discounted price to scoop a whopping 4.58 trillion SHIB ($33.13 million) on October 6. 

SHIB Price Dips 2.3% in 24 Hours

According to CoinGecko data, Shiba Inu surged to a 24-hour high of $0.00000708 before plunging to a daily low of $0.00000691. At press time, SHIB is down 2.3% over the past 24 hours to $0.00000691. 

Following SHIB’s low price in the past day, there is a possibility that the whale took advantage of the discounted price to scoop up the asset. 

The two addresses involved in the transaction may be owned by an entity. Other than buying and selling, crypto enthusiasts sometimes move their funds between two addresses for various reasons, especially for security purposes. 

Enthusiasts make this decision whenever they believe the wallet holding the funds has been compromised.