Shiba Inu (SHIB) is undoubtedly popular among whales. It is one of the reasons many retail investors fear buying into the project. A sell-off from the whales would trigger a massive fall in the token’s price. Nonetheless, whales continue to dominate SHIB holdings. According to Whalealert, a Shiba Inu (SHIB) whale recently moved 3.3 trillion tokens from an unknown wallet. The transferred SHIB is worth an eye-watering $38 million.
The sender’s wallet currently has no SHIB balance. However, the sending wallet received around the same amount of SHIB from another unknown wallet 14 days prior. The 3.3 trillion SHIB is still held in the mystery wallet that received it.
The movement of the tokens comes as SHIB’s layer-2 network, Shibarium, prepares for launch. Many expect the launch to push Shiba Inu’s price to new heights. The whale may be preparing for the Shibarium launch and could take its position based on how the release unfolds.
Furthermore, Shiba Inu (SHIB) is still a favorite among Ethereum (ETH) whales and makes up over 15% of the top 100 ETH whale holdings. The top 100 ETH whales hold nearly half a billion US dollars worth of SHIB tokens.
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