Shiba Inu: New SHIB Whale Amasses 4.59 Trillion Tokens at a ‘Bargain Price’

In recent crypto news, a fresh player in the Shiba Inu market has made waves by acquiring a staggering 4.59 trillion SHIB tokens. This substantial purchase, made at the incredibly low price of $0.00000726 per token, has piqued the curiosity of crypto enthusiasts and experts alike.

This intriguing development was first brought to our attention by Whale Alert, a renowned tool for tracking large crypto transactions. The tokens were transferred from a wallet under the control of Bitvavo, a prominent Netherlands-based exchange.

🚨 🚨 4,595,530,677,374 #SHIB (33,377,339 USD) transferred from #Bitvavo to unknown wallethttps://t.co/THVHI1QCE7
— Whale Alert (@whale_alert) September 22, 2023

A Closer Look

For a more comprehensive analysis of this noteworthy transaction, let’s delve into Etherscan. The data reveals that exactly 4,595,530,677,374 (4.595 trillion) Shiba Inu tokens were engaged in this transaction, currently valued at $33.82 million in the market.

At the time of the transaction, Whale Alert reported the tokens to be worth $33.37 million iindicating that each SHIB token was acquired at $0.00000726. Since this transaction, Shiba Inu has seen a 1.37% increase, resulting in a gain of $445K in the value of these tokens.

Unpacking the Mystery

This intriguing movement took place at 15:12 (UTC) yesterday, marking the first-ever transaction for the recipient wallet. It’s worth noting that this wallet was recently created, leading many to speculate that it was specifically activated for this transaction.

Also read: Shiba Inu: Top Job Platform Integrates BONE as Payment Support

Whale Alert initially categorized the recipient wallet as “unknown,” but on-chain data confirms that it indeed belongs to Bitvavo. Since both wallets are linked to Bitvavo, it’s reasonable to assume that this transaction was an internal exchange activity. However, the specific reason behind it remains undisclosed.

Another noteworthy detail is that the sending address is relatively new, having been created earlier this month. It received its first SHIB tokens on September 4th. Interestingly, this wallet also received substantial amounts of various meme coins before transferring the SHIB tokens.

It’s worth noting that such transactions are not uncommon, as some exchanges regularly create new wallets to store their SHIB tokens. The pattern was observed with BinanceUS on July 19th and more recently with Bitvavo on August 31st.

This intriguing transaction adds another layer of complexity to the world of Shiba Inu and the broader cryptocurrency markets.

Disclaimer: The information in this article should not be considered financial advice, and FXCryptoNews articles are intended only to provide educational and general information. Please consult with a financial advisor before making any investment decisions.