Mysterious Whale Dives into Shiba Inu Market with $8.62 Million Purchase

March 20, 2024
Ai Image/Dall-E

Data from Arkham Intelligence has revealed that an undisclosed entity has made a significant acquisition, purchasing a staggering 332.665 billion SHIB tokens. The total value of this purchase is approximately $8.62 million, given the current token price of $0.0000257.

The transaction, which is linked to the address “0x7976,” was carried out in two large tranches over the last five hours. The first tranche, comprising 320.99 billion SHIB, was transferred from another anonymous address, “0x1de7.” This address is now devoid of Shiba Inu tokens.

Following this, a secondary transfer of 11.676 billion SHIB, valued at nearly $300,000, was executed from the European exchange Bitvavo.

The investment comes amidst a flurry of activity in the Shiba Inu market. Shiba Inu’s marketing lead, Lucie, recently accumulated 40 million SHIB, sparking enthusiasm among crypto enthusiasts. 

LUCIE highlighted the community member’s optimism, stating, “If someone can pull a miracle recovery, it’s SHIB.”

The marketing lead’s remarks about the potential impact of the upcoming Bitcoin halving on altcoins, particularly Shiba Inu, have ignited widespread optimism among cryptocurrency traders and investors worldwide. LUCIE’s insight into the imminent all-time high (ATH) and the accumulation of 40 million SHIB tokens has further bolstered bullish sentiment surrounding the token.

In parallel, as the community engages in new development initiatives and the ongoing burning of SHIB tokens continues, the broader cryptocurrency industry is anticipating positive price movements for the meme coin in the future.

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