Recent data from Etherscan shows ETH whales have bought over 1.6 trillion Shiba Inu
Twitter user @shibaplay_ has shared that over the past 24 hours, a significant portion of the Shiba Inu, the second largest canine coin, has been moved onto the Ethereum chain, totaling more than 1.6 trillion SHIB.
Earlier today, the SHIB took a major fall in price, losing more than 6 percent of its value, which the whales immediately took advantage of.
Whale buys and transfers 1.6 trillion SHIB
The above Twitter user shared links to Etherscan, drawing attention to these eye-popping SHIB transfers.
50,656,885,934 SHIB was bought by an unnamed whale on Coinbase and withdrawn to his cold wallet. However, Etherscan shows that this whale actually bought three big chunks of SHIB, plus one – 80,960,690 SHIB, 130,204,348 SHIB and 8,756,682.
Another large lump of SHIB – 199,999,679,531 – was bought on Binance and transferred to a cold wallet by another investor.
The largest amount of SHIB in this series of transfers was transferred between anonymous wallets – 417,167,400,278 and a mind-boggling 796,958,896,631 SHIB. They are valued at $5,118,644 and $9,730,868 respectively. The second transfer was approximately USD one million more at the time of purchase due to the higher SHIB exchange rate against the USD.
Whale Alert: 796,958,896,631 $SHIB Transfer.
— shibaplay (@shibaplay_) 12 September 2022
View details https://t.co/ndmTDfGDiq
SHIB price down 6%
Earlier today, the Dogecoin coin lost 6 percent of its value, falling into a red candle within an hour. The 20 per cent rally that started a few days ago came to an abrupt end after a gain of about 20 per cent.
When Lokomotiv Crypto, Bitcoin broke above the $22,000 level, the chances of an overall recovery of the cryptocurrency market at a later date diminished.
SHIB loses top 4 spot in largest ETH wallet
According to data shared on the WhaleStats website, SHIB, the second most popular canine crypto in Ethereum whale holdings, has dropped from the top 4 position to the sixth position.
At the time of writing, the largest 100 wallets on Ethereum have a Shiba Inu worth $152,100,683. This comprises 3.89 per cent of his portfolio. The LOCUS and stETH tokens are right next to SHIB, which are positions 5 and 4.