- Investor 0x462 moves 100 billion SHIB to Coinbase, affecting liquidity.
- SHIB whale faces $178,000 loss if selling at current market value.
- SHIB’s value drops 6.19%, contrasting with Ethereum network’s 12.70% rise.
The latest actions of a major Shiba Inu
This investor transferred 100 billion SHIB, valued at around $2.24 million, to a Coinbase account, continuing a series of large transactions that had occurred over the previous week.
The on-chain data specialist known as The Data Nerd has disclosed that a cryptocurrency investor, often referred to as a whale, has accumulated a significant quantity of SHIB tokens at a unit cost of $0.00002408. If this investor decides to sell at the present market value of $0.00002324, they stand to face a loss of approximately $178,000.
This particular trade is part of a broader context concerning the market activity of the SHIB token. Over the past week, SHIB’s value has decreased by 6.19%, a larger drop than the overall crypto market’s 2.60% fall. This is in contrast to other cryptocurrencies within the Ethereum network, which have collectively seen an average rise of 12.70%.
Examining Shiba Inu Token Movements on Exchanges
Data from Arkham Intelligence indicates notable movements of SHIB tokens into and out of various exchanges. Notably, a transfer of 100 billion SHIB to Coinbase was identified as the seventh-largest influx among the most substantial SHIB movements in the last day.
The on-chain graph tracking SHIB’s exchange flows demonstrates fluctuating activity, with significant spikes in incoming transfers and sustained periods of outgoing transfers, suggesting an active and fluctuating market for the token.
The actions of SHIB whales are not limited to the wallet labeled 0x462. On May 2, an anonymous wallet address withdrew an enormous sum of 1.75 trillion SHIB from the Robinhood exchange. This action indicates a continued trend of accumulation by these large holders despite the token’s price fluctuations.
Disclaimer: The insights, perspectives, and data presented in this price analysis are published in good faith. Readers must conduct their own research due diligence. Any decision made by the reader is solely their responsibility, and Crypto Outlooks shall not be held responsible for any consequential or incidental harm or loss.
