On-chain data on Shiba Inu, one of the second largest meme coins in the cryptocurrency market, has made investors nervous. One of the largest SHIB whales has reportedly transferred nearly 4 trillion ($30 million) worth of tokens to 8 new addresses.
A whale with about 10% of the total SHIB supply has made a major transfer for the first time in 610 days. According to the information provided by Lookonchain, possibly the largest Shiba Inu whale has made a token transfer of approximately $ 30 million. It is unknown whether the SHIBs sent to 8 different addresses were moved for sale.
The whale in question had bought about 103 trillion SHIB ($14,000) in the past and earned millions of dollars. Currently, this whale is thought to have an SHIB of 101.47 trillion. Even if the amount sent by the whale is small compared to its assets, it can create selling pressure. SHIB priceAs of the time of writing, it is at the level of $0.00000751.
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