The recent transaction, which made the new wallet $22M+ richer, is the latest in a series of recent SHIB accumulations among Ethereum whale addresses.
A new wallet address on the Ethereum network just stockpiled a whopping 2,673,966,699,162 (2.6 trillion) SHIB valued at $22.9M against prevailing rates. The transaction, along with several recently-witnessed whale accumulations, underscores the growing interest among SHIB whales to amass more tokens when the SHIB trades in oversold territories amid market-wide turmoil.
The latest whale accumulation transaction was first highlighted by the crypto surveillance system Whale Alert today. The transaction, which occurred on December 16, 12:39 (UTC), involved the transfer of 2.6 trillion SHIB worth $22.9M from one unidentified wallet to another. Both wallets are reasonably fresh, with the recipient account the newer of the duo.
— Whale Alert (@whale_alert) December 16, 2022
The movement is the first and only transaction in which the recipient wallet has been involved as of press time. The balance on the wallet is now 2.6 trillion SHIB ($22.9M). This makes the wallet the 33rd largest Shiba Inu holder as of press time, per data from Etherscan, towering over some official Crypto.com and Gemini wallets.
The recent transaction emptied the sender’s wallet, which currently has $0.02 worth of ETH at the reporting time. The wallet had been involved in a series of transfers and swaps in the past, with the last two transactions involving SHIB outflows to the tune of 800 billion SHIB and 2.6 trillion SHIB.
Growing Interest in Shiba Inu
This massive whale accumulation is the latest recent transaction that has seen new whale wallets amass SHIB tokens. On Wednesday, The Crypto Basic highlighted a transaction involving the accumulation of 1.92 trillion SHIB tokens valued at $17.7M.
Last Thursday, an earlier accumulation occurred, making the recipient wallet 2.8 trillion SHIB ($26.2M) richer, as it secured the position of 32nd largest SHIB holder at the time. This was preceded by another transaction involving a new SHIB whale, which accumulated 3.3 trillion SHIB valued at $33.8M in October.
This whale accumulation trend began a few months back and has remained sustained. Two days back, The Crypto Basic disclosed that SHIB ranked 6th on the list of most considerable assets held by Ethereum whales, with a cumulative balance of 5.76 trillion SHIB at the time. This highlighted the growing interest in the asset despite the overall bear market. This interest is also indicated by the desire of over 1.8 million CoinMarketCap users to track SHIB’s price movements.
Meanwhile, despite these propitious developments, SHIB is witnessing battering from the bears and the rest of the crypto market. The asset has declined by 8.11% in the past week, as it currently changes hands at $0.000008555 at the time of reporting, down 3.25% in the past 24 hours.