Wednesday, December 8, 2021
Home Crypto News Market The Famous Shiba Inu Wallet That Turned $8,000 Into $5.7 Billion Has...

The Famous Shiba Inu Wallet That Turned $8,000 Into $5.7 Billion Has Come Out Of Hibernation For The First Time After April 2020

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One of the largest SHIB wallets has emerged from the slumber.



The Shiba Inu wallet that turned $8,000 into $5.7 billion is active according to data from Etherscan.

 

For the first time since April 2020, this whale has shifted SHIB funds, causing concerns as selling pressure on SHIB might increase.

The Shiba Inu billionaire has so far transferred around 10 trillion SHIB tokens that are worth about $2.7 billion to four empty addresses.

The wallet that is in question holds about 13 percent of Shiba Inu’s total circulating supply.

The investor began buying SHIB tokens in April 2020 and turned it into a multi-billion-dollar fortune in only 19 months.

Many speculated that the dormant address was not accessible, because tokens were not moved despite huge gains. However, recent transfers prove the speculation was not correct.

 

Shiba Inu soared 825 percent in October and has caught the attention of many investors. This week, it managed to surpass the rival Dogecoin in market capitalization and reached a new all-time high of $0.00008616 on the 28th of October.

Read More On SHIB:

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Ammarahttps://thecryptobasic.com/
Ammara Mubin is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Ammara authored more than 1,000 stories for TheCryptoBasic, CryptoComes and other fintech media outlets. She is particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

2 COMMENTS

  1. So they bought Shiba 4 months before it was created?
    It hasn’t been in hibernation, it has been very active the last 6 months.

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