The price of Shiba Inu (SHIB) is down more than 3% in the last 24 hours, with the current price at $0.000008894. On-chain data indicates that a large whale dumped more than 210 billion SHIB tokens, sending the price down more than 3% in the past 24 hours. The whale has a history of dumping Shiba Inu tokens that he purchased in 2020.
Shiba Inu Whale transfers 210 SHIB Tokens
On-chain analytics platform Lookonchain in one tweet on December 15 shared that a Shiba Inu whale transferred 207.2 billion tokens worth $1.9 million to crypto exchange Binance on December 14 at 13:54 UTC. The whale has also sold nearly 4 billion SHIB tokens in the past 7 days, bringing the total SHIB sale in December to over 210 billion.
In the following hours, SHIB price fell 3% after its transfer. The sell-off caused the SHIB price to fall another 3% as a result of breaking the support level. Thus, the whale caused the Shiba Inu price to drop more than 6% even before the Fed’s decision to raise rates.
The whale purchased 3.49 trillion Shiba Inu (SHIB) tokens for 2.37 ETH through Uniswap in 2020, worth $2,233 at the time. He did this by spending nearly 1.83 ETH to buy 2.27 trillion SHIB tokens and 1.22 trillion SHIB via address “0x5952” and address “0x92f2”, with a cost of almost 0.54 ETH. At the time, the price of Ethereum was almost $266.
The last time the whale ever bought SHIB was on February 9, 2021. Since then, the whale has only sold SHIB to make a profit.
After Shiba Inu held mass gatherings in 2021, the whale began selling its SHIB property. According to Lookonchain, the whale has a total of 2.94 trillion sold SHIB Tokens since April 13, 2021.
If the whale sells its SHIB asset at the current price, it will earn nearly $18.3 million. The wallet address shows that the whale still has over 546 billion SHIB tokens worth $4.86 million.
Shiba Inu traders should keep an eye out for sales of this whale in the future to predict a fall in the SHIB price. Currently, SHIB price is trading at $0.00000888, down more than 3% in the last 24 hours.
Also Read: SHIB Burn Rate Shoots Up 107% During Price Dump
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