The largest Shiba Inu wallet has awakened from hibernation.
According to Etherscan data, the Shiba Inu wallet, which converted $8000 to $5.7 billion, is active again. For the first time since April, the whale began carrying funds, raising concerns about massive selling pressure.
The Shiba Inu billionaire has so far transferred approximately 10 trillion SHIB tokens worth approximately $2.7 billion into four empty wallets.
The wallet in question controls about 13% of the Shiba Inu’s total circulating supply.
Converted To Wealth In 19 Months
The investor started purchasing SHIB tokens in April 2020 and managed to turn it into a multi-billion fortune in just 19 months. The Shiba Inu token rose 825% in October, attracting the attention of the investment community. Last week, it managed to surpass its rival Dogecoin by market cap and hit a new record high of $0.00008616 on October 28.
Some claimed that the address in question was inaccessible and therefore the tokens remained untouched despite the huge gains. However, recent transfers show that this is definitely not the case.
Shiba Inu price was down 11% after the whale address became active again. According to CoinGecko data at the time of writing, SHIB 0.00006614 was trading at the dollar.