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

Varinder is a technical writer and editor, technology enthusiast and analytical thinker. Fascinated by disruptive technologies, he has shared his knowledge about Blockchain, Cryptocurrencies, Artificial Intelligence and the Internet of Things. He has been associated with the blockchain and cryptocurrency industry for quite some time and is currently covering all the latest updates and developments in the crypto industry.

The content presented may contain the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or publication is not responsible for your personal financial loss.

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