Shiba Inu’s price falls after $ 2.3 billion in SHIB was pulled from a whale’s wallet

The price of Shiba Inu (SHIB) is down 11% after a series of transactions in the Wallet of the Whale made a famous $ 3,400 purchase that turned into $ 1,550 million last August.

On Tuesday, the whale made four transactions with exactly 10,000,000,100,000 SHIB each to four different wallets. Each transaction was valued at approximately $ 586 million for a total of approximately $ 2.3 billion..

After the wallet is identified for the first time, Social media users speculated that the owner might have forgotten or lost their password, as the wallet has not been active since last year.

Remember when everyone wondered if the person who turned $ 8,000 into $ 5 billion really lost access to their wallet?
Turns out he didn’t and just started moving some of his SHIBs.

Shiba Inu’s price falls after $ 2.3 billion in SHIB was pulled from a whale’s wallet
Shiba Inu’s price falls after $ 2.3 billion in SHIB was pulled from a whale’s wallet

but With the awakening of the whale, the transactions in the community have sparked some fears that the holder is preparing to sell his tokens. The whale owns such a large proportion of the supply that any sale could cause a massive drop in prices.

“If it decided to sell these stocks, SHIB would drop 99.99% to zero.”, tweeted Financial analyst Jacob Oracle.

The movements put downward pressure on Price down 31.2% from its all-time high seven days ago and 10.8% in the past 24 hours, according to data from CoinGecko.

He woke up.

The best trader of all time is alive.

This wallet bought $ 8,000 from SHIB in August last year.

It’s now worth $ 5.7 billion.

I repeat: $ 5.7 billion in 400 days.

It owns 16% of the market capitalization.

You sent $ 2.2 billion to four different wallets yesterday.

Incredible.

Shiba Inu ownership is concentrated as the top 10 wallets own almost 72% of the coins in circulation, according to CoinMarketCap.

The original whale exchange still has over $ 1.8 million in SHIB.

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