A major investor has quietly accumulated over 124 billion Shiba Inu tokens, with the entire holding still intact in their portfolio.
The unidentified entity behind the wallet address, 0xD59…52f8A, received a total of 124,449,000,000 (124.44 billion) SHIB yesterday, worth approximately $1.64 million.
On-chain data shows that another unlabeled address, ‘0x0fF…979b6’, sent the funds to the recipient wallet in two tranches of 100 million and 124.337 billion SHIB tokens. Per the data, the transactions occurred yesterday at 08:57 AM (UTC) and 09:05 AM (UTC), respectively.
Funds Remain Untouched
At press time, on-chain data confirms that the address has not sold. The entire 124.44 billion SHIB tokens remain intact in the wallet. This suggests that the entity behind the wallet may be positioning itself for a potential price move in Shiba Inu.
In addition to SHIB, the wallet also maintains a diversified portfolio, featuring other major assets, such as DORA, ETH, PEPE, and various stablecoins. Notably, Shiba Inu ranks as the second-biggest cryptocurrency by dollar value in the wallet, with a valuation of $1.64 billion, trailing only the meme-inspired token DORA.
Whale Interest in SHIB Soars
Meanwhile, the transactions align with the growing interest in SHIB among large crypto investors. Multiple reports have shown large investors accumulating substantial amounts of SHIB tokens.
Last month, The Crypto Basic reported that an unknown investor withdrew 3 trillion SHIB from the Coinbase exchange. In the same month, another Coinbase user transferred 193 billion SHIB from the exchange to an unknown address.
The latest transaction of 124 billion SHIB adds to the widespread accumulation of SHIB by crypto whales.
Growing Optimism in Shiba Inu
The move comes amid renewed optimism around Shiba Inu, as market sentiment improves. This is evident in the recent spike in Shiba Inu search interest on Google Trends, which has soared to a score of 100 over the past seven days.
In the meantime, Shiba Inu is among the beneficiaries of the recent relief rally across the market. The rally pushed Shiba Inu’s price above the $0.000013 mark earlier this week.
It is trading at $0.00001315 in the hours leading up to press time. At the current price, SHIB is up 7.78% over the past week. However, the token has underperformed in the past month, with a slight loss of 0.35%.
DisClamier: 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 opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
