The largest Shiba Inu whale, identified as “0x1406,” has stirred from a 157-day dormancy and transferred a staggering 4 trillion $SHIB tokens to eight newly-created addresses.
With a net worth of approximately $29.8 million, this significant movement comes in anticipation of the forthcoming Shibarium mainnet release scheduled for August. The whale, renowned for holding the largest share of SHIB tokens, may have been prompted by the recent announcement made by Shiba Inu’s lead developer, Shytoshi Kusama, regarding the Shibarium mainnet and the highly anticipated “Worldpaper” release.
A major blockchain analytics company, LookonChain, has shown that the giant whale has a staggering 101.47 trillion $SHIB tokens, worth an amazing $756 million. The most recent transfer solidifies the whale’s position as the largest holder inside the Shiba Inu ecosystem because it accounts for 10.15% of the whole SHIB supply. It is notable that this sleeping monster has chosen to amass and distribute SHIB coins to numerous addresses rather than make significant transactions for an incredible 610 days.
Analyzing the whale’s past exposes its astute financial strategies. It got an incredible 103.33 trillion SHIB tokens in 2020, which is equal to 38 ETH worth $14,000. The whale then made $9.6 million by selling 603 billion SHIB for 2411 ETH. It also sold 1.25 trillion SHIB to the well-known cryptocurrency exchange Coinbase in 2021 for an additional $8.77 million. This powerful organization currently has a staggering 101.47 trillion SHIB tokens, spread over 23 wallets, with a market value of around $756 million.
The whale’s most recent transaction, which involved the acquisition of 7,049 SHIB coins, took place 157 days ago. There are presently 6.20 trillion SHIB coins, worth $46 million, in its primary wallet, “0x1406,” which is astounding.
These new advancements line up with the intriguing information that Shiba Inu’s principal developer, Shytoshi Kusama, announced at the Blockchain Futurist Conference in Toronto, Canada. The long-awaited L2 Shibarium’s impending release as well as the introduction of the Worldpaper were both announced by Kusama. The Doggy DAO and the SHIB DOGGY DAO FOUNDATION, which are in charge of carrying out the DAO’s decisions and maintaining its assets, will also be established in the Shiba Inu ecosystem.
Shiba Inu And Bone Prices Are Expected To Rally
Simultaneously, Bone ShibaSwap (BONE), the gas token of the upcoming Shibarium, has witnessed an impressive rally of 82% within a month. With optimistic community sentiments, there is a belief that the price of BONE could surge to $3 following the Shibarium release. As of now, BONE is trading at $1.29, representing a 1% increase in the past 24 hours. The 24-hour low and high for BONE are recorded at $1.27 and $1.31, respectively.
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While the price of $SHIB experienced a slight dip of over 1% from its 24-hour high, it currently stands at $0.00000747. The lowest and highest points observed over the past 24 hours were $0.00000737 and $0.00000759, respectively.