Whale Alert has brought to light the move of an influential Shiba Inu investor who has recently taken steps to capitalize on recent gains from SHIB.
In a recent tweet, prominent crypto surveillance service Whale Alert documented the movement of billion units of Shiba Inu tokens to a renowned market maker.Â
Specifically, Whale Alert disclosed that 299,960,261,700 SHIB tokens were moved from an unnamed destination to Wintermute, a well-known liquidity provider in the crypto scene.
At the time of the disclosure, transferred tokens held a monetary value of $10,662,837.
🚨 299,960,261,700 #SHIB (10,662,837 USD) transferred from unknown wallet to #Wintermutehttps://t.co/YuoWgZwJwn
— Whale Alert (@whale_alert) March 8, 2024
A Cash Out Move
Given Wintermute’s reputation for providing a liquidity route for influential investors, the recent transfer from this Shiba Inu whale to the platform suggests a move to take profit amid the recent gains in Shiba Inu’s market value.
Notably, Shiba Inu features among the leading digital assets that have experienced impressive recoveries from Bitcoin’s recent bearish influence.
In particular, SHIB has printed a 28% rally from the Bitcoin-influenced low of $0.00002942 to as high as $0.00003775 within the past three days.
Wallet Moved 863.99B+ Shiba Inu This Month
Meanwhile, the recent 299 billion SHIB transfer to Wintermute is not the first instance of such a transaction from this particular whale. Blockchain data provides significant details about this whale’s Shiba Inu token movements this month alone.
On March 5, this Shiba Inu wallet took a store of 240 billion SHIB from U.S.-based exchange Robinhood. In a matter of minutes, the wallet transfers to Wintermute.
Similarly, the Shiba Inu investor took out 168 billion SHIB tokens from Robinhood to the market maker the following day. This Shiba Inu whale repeated similar moves on March 7. Yesterday represented their most recent Shiba Inu cash out via Wintermute.
Cumulatively, this whale has transferred 863,991,664,838 SHIB tokens this month to Wintermute. At Shiba Inu’s market value of $0.00003554, these moved tokens wield a monetary value of $30,706,263.Â
Significantly, these transactions have coincided with Shiba Inu breaking multi-year highs within the last two weeks.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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