Breaking news: the Shiba Inu (SHIB) price has decreased by 11% after the famous whale wallet made a couple of transactions simultaneously. If you’ve been keeping yourself up-to-date on the latest crypto news, this whale wallet may be familiar to you, as it purchased $3400 last August, turning it into $1.55 billion.
Last Tuesday, the whale wallet in question made four different transactions worth 10,000,000,100,000 SHIB, transferring each one to four different wallets. Each transaction made totaled more or less $586 million, which meant the overall amount was $2.3 billion.
When enthusiasts first identified the wallet, they speculated that perhaps the owner forgot their key or maybe even lost it, as the wallet was left unattended since last year—or at least it didn’t have any activity at all after the initial transaction was made.
However, now that the whale wallet is apparently waking up and has made four different transactions, the Shiba Inu community worries that the holder plans on selling their tokens. You see, the whale is known for owning a significant amount of the supply. In other words, any form of liquidation could cause a major price drop for the SHIB.
He is awake.
The best trader of all time is alive.
This wallet bought $8,000 of $SHIB last August.
It's now worth $5.7 billion.
I repeat – $5.7 billion in 400 days.
He owns 16% of the marketcap.
He has sent $2.2 billion to four different wallets yesterday.
Incredible. pic.twitter.com/3Zkodcv034
— unusual_whales (@unusual_whales) November 3, 2021
According to financial analyst Jacob Oracle, there’s a big chance that Shiba Inu would drop “-99.99% to zero” if the holder decides to sell. In fact, the transactions alone have caused the price to fall 31.2% from its recent all-time high. And according to CoinGecko, it fell another 10.8% in the last 24 hours.
As for the original wallet of the whale, it still has over $1.8 billion SHIB in there despite the four recent transactions.
