1.356 trillion SHIB suddenly bought by 9 wallets: what is happening?

1.356 trillion SHIB suddenly bought by 9 wallets: what is happening?




It coincided with the price of the second largest meme cryptocurrency, SHIB, which skyrocketed almost 8% in the last two days and a massive jump was seen in the burn rate of SHIB in the last 24 hours.

Trillions of SHIB absorbed by anonymous whales

@lookonchain revealed that nine wallets, belonging to two anonymous whales, purchased a mind-boggling 1.356 trillion Shiba Inu, paying $35.2 million in fiat money for them at an average price of $0.00002596 per meme coin.

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SHIB whales appear to have become more active this week. Aside from the massive SHIB buying mentioned above, on June 5, the same analytics data source reported that an anonymous “super large SHIB whale” amassed 715.9 billion SHIB meme coins. That cost him 4,849 ETH, valued at $18.44 million at the time of the transaction.

This second SHIB purchase was made by a whale that accumulated 5.5 billion Shiba Inu in the early days of SHIB for approximately $400 million and then sold that amount for approximately $121 million, when the price of SHIB reached two peaks. Therefore, he made more than $120 million in pure profits from those trillions of SHIB.

The purchases mentioned above took place when SHIB whales became active this week and coincided with the price of the meme coin soaring more than 10% on June 5, reaching a high of $0.00002630. Then there was a slight rally that caused the price to fall by 2.65%.

At the time of writing, Shiba Inu is changing hands at $0.00002258.


Thu, 06/06/2024 – 08:27
Ripple CTO Issues Crucial Warning to XRP Community

SHIB burns soar 3.895%

Meanwhile, according to explorer Shibburn, overnight the Shiba Inu’s burning rate demonstrated an impressive increase, soaring by almost 3,895%. A total of 4,829,147 SHIB were transferred to non-fungible wallets (i.e. burned).

The largest burn transaction here brought 4,039,143 SHIB to a dead-end wallet about 15 hours ago.

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