Unidentified Whale Disposes of Shiba Inu and BONE to Purchase 1 Trillion PEPE

Lookonchain, a widely recognized blockchain activity monitoring platform, recently conveyed through a post on X (formerly known as Twitter) that an unidentified whale acquired a significant sum of 1.07 trillion PEPE tokens, amounting to $1.28 million. This was achieved by liquidating all their holdings of Shiba Inu (SHIB) and Bone ShibaSwap (BONE) tokens.

A whale sold all $BONE and $SHIB, then bought 1.07T $PEPE ($1.28M)!

The whale sold all 979,469 $BONE for 787 $ETH($1.44M) at $1.47 in the past 3 days.

Then deposited all 143B $SHIB($1.32M) to #Binance after #Shibarium stopped producing blocks.https://t.co/XILSObi0UC pic.twitter.com/vwv6puUYwo
— Lookonchain (@lookonchain) August 17, 2023

As per Lookonchain’s information, the mysterious whale offloaded 979,469 Bone ShibaSwap (BONE) tokens over the past three days. These tokens were valued at $1.44 million or approximately 787 ETH, with an average selling price of $1.47.

Furthermore, the unidentified investor transferred a significant amount of 142,980,265,938 (142.98 billion) SHIB tokens, valued at $1,303,980 ($1.30 million), to a wallet associated with Binance, identified as Binance 14, in a solitary transaction. According to data from Etherscan.io, this transaction took place precisely at 12:29:35 AM +UTC on August 17th, 2023.

Following this, the same whale conducted another transaction, amassing an impressive 1,068,448,646,503 (1.06 trillion) PEPE tokens, which amounted to $1,276,450 ($1.27 million), all in a single instance.

Shabarium Mainnet Faces Minor Hindrance

This selling activity involving tokens from the Shiba Inu Ecosystem, SHIB, and BONE, follows an alert from Beosin, a reputable platform specializing in analyzing crypto-related risks. Beosin flagged a significant issue on the Shibarium Mainnet, highlighting that over 965 ETH, equivalent to $1.7 million, became stranded on the Shibarium cross-chain bridge. This issue led to a halt in block production. In response, Beosin advised users to exercise caution and temporarily avoid utilizing the Shibarium Mainnet.

However, it’s relevant to note that the ongoing issue hasn’t elicited a response from the Shibarium developers yet, causing apprehension within the cryptocurrency community.

The unforeseen occurrence has led to a significant decline in SHIB and BONE prices. Currently, Shiba Inu is trading at $0.000009011, marking an 8.58% decrease from the previous day’s value. Meanwhile, the BONE price has experienced a substantial drop of 16.56%, bringing it down to $1.26.

Conversely, PEPE is being traded at $0.000001212, reflecting a decrease of 4.33% within the past day. The token has also recorded a 24-hour trading volume of $130,960,589 ($130.96 million).

Olasunkanmi Abudu

Olasunkanmi Abudu is a Web3 content writer with over five years of experience covering blockchain, decentralized finance, and digital assets. He specializes in producing well-researched and accessible content that explains complex technologies and market trends to both general readers and industry professionals.

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