The price of Shiba Inu sees 11% decrease after series of transactions from whale wallets. Particularly, from the whale wallet that transformed $3400 purchase last August into $1.55B.
Furthermore, On November 2, the whale moves ten trillion, one hundred thousand Shiba Inu tokens to four separate wallets.
Notably, Each of those transactions worth approximately $586M USD, totaling about $2.3B USD.
More so, there are speculations that the owner does not know their key, checking the lack of activity in the wallet since last year.
“Remember when everyone was wondering if the guy who turned 8k$ into 5 billion actually…”
“lost access to his wallet? Turns out he didn’t and just started moving some of his $SHIB”
— Devchart (@devchart) November 3, 2021
Additionally, the whale waking up brings some fear in the community of the holder preparing to sell his tokens.
Notably, The whale owns such a large percentage of the supply. Of course, any liquidation will bring about a massive price plunge.
“If he decided to sell these bags, SHIB would plummet -99.99% to zero,”
So, financial analyst Jacob Oracle says.
Additionally, The news causes downward pressure on the price, falling 31.2% from its ATH seven days ago.
Also, 10.8% in the last 24 hours according to data from CoinGecko.
So, Unusual Whales tweets.
“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.”
— unusual_ whales (@unusual_whales) November 3, 2021
Lastly, The ownership of Shiba Inu is with the top 10 wallets holding almost 72% of the coins in circulation.
Currently, The whale original wallet still holds over $1.8M worth of SHIB.
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