A Dormant Shiba Inu (SHIB) Whale Moves Trillions of Tokens in Redistribution Campaign
A dormant Shiba Inu whale recently moved 10 trillion SHIB tokens, worth $75.2 million, to multiple new addresses within 24 hours. Here are the key points:
– Lookonchain, a blockchain surveillance platform, highlighted the whale’s activity in a tweet.
– The whale carried out a total of 20 transactions, each worth 500 billion SHIB.
– This redistribution campaign marks the first large transfers by the whale in over a year.
– Concerns have emerged about a potential market dump as investors fear the impact on SHIB price.
– SHIB has been consolidating between $0.00000706 and $0.00000786, with a lack of significant ecosystem developments.
Hot Take: Potential Volatility Ahead for SHIB Price
The recent redistribution of trillions of SHIB tokens by a dormant whale has raised concerns among investors. With the market already in a delicate position and SHIB struggling to regain its previous threshold, the possibility of a large-scale dump has left investors worried. The lack of significant ecosystem developments has also contributed to a dearth of interest, potentially leading to further price decline. Keep an eye on SHIB price in the coming days as volatility may increase.
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