One of the largest Shiba Inu (SHIB) whales in existence just surfaced as Bitcoin and the crypto markets at large coil up for their next big move.
The whale tracking platform WhaleStats was first to identify a huge crypto transfer shifting 200,899,251,805 SHIB worth $2,207,882 in a single transaction.
The entity that initiated the transfer is the 254th-largest Ethereum whale on record, and paid just $2.03 to move the entire lot of SHIB.
The crypto in question does not appear to be heading to any known crypto exchange addresses, where it could potentially be sold on the open market.
The huge transfer has drained the Ethereum whale of all of their SHIB, and the whale’s single-biggest position is in ETH itself.
The whale now holds a remarkable 4,423 ETH worth $6,923,259.
Shiba Inu remains the largest altcoin holding among the 500-biggest Ethereum whales in existence, not counting ETH itself and stablecoins.
After an explosive start to the year, SHIB’s price has consolidated to $0.00001099 at time of publishing, down 0.2% in the last 24 hours.Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
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Featured Image: Shutterstock/Kiselev Andrey Valerevich/Andy Chipus