A deep-pocketed crypto investor is suddenly moving a massive amount of meme asset Shiba Inu (SHIB) in a single transaction.
According to whale-surveying platform Whale Alert, the wealthy investor abruptly transferred a staggering 2.87 trillion SHIB worth just over $26 million from an unknown wallet to another unknown wallet.
The sending wallet was emptied of all SHIB and only held on to the tokens for just a few hours, according to blockchain search engine Etherscan.
Data from leading analytics platform IntoTheBlock finds that 80% of SHIB’s supply is currently being held by crypto whales or sharks. It also finds that 17% of the Dogecoin (DOGE) rival’s holders are in profit while 74% of them are underwater while 61% of Dogecoin holders are in the green while about 37% of them are seeing red.
WhaleStats’ on-chain data reveals that the top 1,000 ETH whales hold a combined $32.1 million worth of SHIB. Their next highest holding is oracle providing blockchain Chainlink (LINK) at $11 million, followed by gaming metaverse protocol Decentraland (MANA) at $6.7 million.
At time of writing, SHIB is changing hands at $0.0000095, down about 10% from its week’s high of $0.000010.Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
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Featured Image: Shutterstock/muratart