Three anonymous Shiba Inu whales have amassed over 869 billion SHIB from Coinbase and Upbit in 24 hours.
As investors prepare for an imminent bull run that could potentially lead to an upward trend in crypto prices, whales have shifted their attention to meme-based tokens, like Shiba Inu (SHIB).
This is reflected in a recent accumulation spree indexed by top crypto data provider Arkham Intelligence. Data from the platform shows that three untagged wallets gulped over 869 billion Shiba Inu in the past day.
In particular, these addresses amassed a whopping 869,458,197,872.98 (869.45 billion) SHIB in three different transactions. At the current price, the tokens are worth $22.12 million cumulatively.
According to data from Arkham Intelligence, the unknown whales withdrew the 869 billion SHIB from two prominent crypto exchanges, Coinbase and Upbit.
Details of the Transaction
Arkham Intelligence data shows that the oldest transaction occurred exactly 21 hours ago, involving a fresh wallet, “0xad3A…3f8Ba.” Notably, the wallet withdrew 438.23 billion SHIB, worth $11.17 million, from Coinbase. Prior to the hefty Shiba Inu withdrawal, the wallet had not been involved in any transaction, which indicates that it is a fresh wallet.
In addition, Arkham Intelligence recorded another massive Shiba Inu movement an hour later. This time, an unknown investor shifted 221.03 billion SHIB, $5.63 million, from San Francisco-based exchange Coinbase to a fresh wallet “0xFD1B…2FA18.” According to Arkham Intelligence data, the 221.03 billion SHIB marks the first transaction recorded on the wallet.
For the last transaction, an unknown Shiba Inu wallet, “0x3f15…F9329,” received a whopping 210.19 billion SHIB, worth $5.32 million, from Upbit exchange 11 hours ago. Unlike the two wallets, this wallet has been involved in a series of Shiba Inu-related transactions recently and in the past.
Notably, shortly after withdrawing the 210.91 billion SHIB from Upbit, the wallet transferred nearly 10 billion SHIB to Binance, OKX, Bybit, HTX, and other untagged wallets.
Whales Taking Early Positions Amid Speculations of Potential Rally
Meanwhile, the development suggests that crypto whales are taking early positions in Shiba Inu as they anticipate a potential price rally for the asset.
Several crypto analysts have recently issued a series of positive forecasts for Shiba Inu, with multiple projections hinting at a likely surge toward the $0.001 level. This target requires Shiba Inu to rally 3,829% from the current price.
In the meantime, Shiba Inu has staged a daily increase of 0.9%, placing the asset’s price at $0.00002545. The meme-based token has also surged 8.6% over the past week.
