In a significant move, an early whale investor in Shiba Inu (SHIB) has made waves by transferring a staggering 200 billion SHIB tokens to exchanges within the last five days, according to Etherscan data. This massive transfer, equivalent to a whopping $5 million, comes as the investor continues to hold a substantial 2.8 trillion SHIB, valued at approximately $87.64 million.
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The mysterious whale's journey with Shiba Inu began four years ago when they exchanged 10 ETH, then valued at $3,500, for a staggering 15.277 trillion SHIB tokens. Over the years, the investor has been actively involved in trading the meme token, with notable periods of buying and selling observed.
Source: Etherscan
Notably, a surge in activity was witnessed from August to October 2021, during which SHIB's price soared by 1.382%, reaching an all-time high of $0.00008854 per token. During this period, the enigmatic whale offloaded over half a trillion SHIB tokens, capitalizing on the price surge.
SHIB to USD by CoinMarketCap
Despite periods of selling, the investor resumed purchasing SHIB tokens a year ago, with the last recorded purchase made on Nov. 18, 2022. However, the most recent wave of sales, starting earlier than five days ago, has caught the attention of market observers.
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Since December 2022, the investor has systematically sold SHIB tokens every few months, culminating in the recent surge in SHIB's price by 112%. This surge, however, represents only a fraction of SHIB's overall upward trajectory, with the meme token's value surge by over 377% in the past two weeks alone.
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