Major Shiba Inu Whale unstaked $8.23 Million Worth of Shiba Inu (SHIB).
Etherscan.io data reports that a Shiba Inu Whale ranked 54th in terms of holdings, has transferred a massive 800,215,912,624 (800.21B) SHIB, worth $8,230,620 ($8.23M) from ShibaSwap DEX to its wallet in a single transaction. The transaction occurred approximately 10 hours ago from press time.
Whale Alert, a famous blockchain tracking platform, also confirmed this transaction.
🚨 800,215,912,624 #SHIB (8,230,620 USD) transferred from Shiba Staking to unknown wallethttps://t.co/EAryhzbrQ0
— Whale Alert (@whale_alert) March 15, 2023
With this transfer, the key Shiba Inu investor holdings increased to 1,084,415,912,624 (1.08T) SHIB, worth $11,288,769 ($11.28M).
The reason for this unstaking is unknown. The wallet is currently holding the unstaked tokens and not transferring them to any exchange for selling.
The SHIB token’s current supply stands at 589,610,792,299,634 (589.61T) SHIB, which includes 573,714,776,777,076 (573.71T) SHIB in circulation and 15,896,015,522,557 (15.89T) SHIB staked on the ShibaSwap DEX.
The value of SHIB has dropped by more than -8% over the last day. The selling pressure intensified after Voyager, a bankrupt lending platform, sold off 270 billion SHIB tokens, valued at $3 million, to Coinbase yesterday.
Despite this recent selloff, Shiba Inu continues to gain mainstream adoption. Binance recently launched its crypto-focused prepaid card in Colombia, allowing residents to pay for their goods and services using SHIB and 11 other crypto assets supported by the card.
As of writing, Shiba Inu is trading at $0.00001038, with a 24-hour trading volume of $391,828,822 ($391.82M).