Bitrabo Editorial
An inactive Shiba Inu whale has re-emerged after years of dormancy to acquire a massive 323 billion SHIB tokens valued at $8 million, showcasing a renewed interest in the memecoin.
The whale wallet’s recent activity, the first since 2021, signals positive market conditions and investor confidence in SHIB.
Shiba Inu Whale’s Significant Holdings
The purchase of 323 billion SHIB tokens by the whale was conducted through 156 large transactions, as reported by the popular on-chain tracker Spot On Chain. The buyer started by exchanging 1,000 Wrapped Ethereum (WETH) for 149.3 billion SHIB and continued acquiring another 173 billion SHIB. In total, the whale amassed 323 billion SHIB valued at $8.29 million within three hours.
Spot On Chain highlighted that the whale’s last transaction three years ago involved selling over 167 billion SHIB, which was acquired from an early purchaser. Despite no further activity yet on the recently acquired SHIB, the whale’s wallet still holds 1,169 WETH, worth approximately $4.45 million.
The meme coin sector, including SHIB, has seen a surge in interest, possibly driving the whale’s return to accumulate a substantial amount of SHIB tokens.
SHIB Whales Active in Acquiring Tokens
SHIB whales have been actively buying tokens, with analytics showing steady accumulation, indicating confidence in SHIB’s long-term potential. In a recent revelation by IntoTheBlock, Shiba Inu whales have collectively gathered around 30 trillion SHIB through large transactions, solidifying their belief in SHIB’s future.