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Crypto Frenzy: Whale Accumulates 1.5 Trillion SHIB, Sparking Surge In Price
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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Crypto Frenzy: Whale Accumulates 1.5 Trillion SHIB, Sparking Surge In Price

Samuel Edyme
Samuel Edyme
1 year ago
3 mins read
Shiba Inu

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The bustling realm of cryptocurrencies is abuzz with a major development centered around Shiba Inu (SHIB). This news broke as Lookonchain, an on-chain analyst platform, reported a transaction involving a significant accumulation of Shiba Inu tokens by a major holder.

This transaction took place on notable exchanges such as Binance and Coinbase and has made waves in the crypto community.

According to Lookonchain’s data, a SHIB holder, identifiable by the address “0x40B3,” has recently added a colossal 1.5 trillion SHIB tokens to their portfolio. At current market rates, this acquisition equates to approximately $10 million.

A History Of Accumulation

Notably, this particular holder, “0x40B3,” has a history of substantial SHIB purchases. The holder had previously acquired 5.3 trillion Shiba Inu tokens, translating to around $35.5 million. On May 16, “0x40B3” made a transfer of 20 trillion SHIB tokens to another address, “0x73AF,” amounting to roughly $134.4 million.

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1 year ago

Owing to these sizable transactions, “0x40B3” has garnered attention within the crypto ecosystem. The scale of their holdings, rendering them the largest nonexchange holder of Shiba Inu, emphasizes their influence on the SHIB market.

Impact On The SHIB Market

The acquisition of the recent 1.5 trillion SHIB tokens by “0x40B3” had an immediate effect on the SHIB price. In just 15 minutes following the acquisition, the price of Shiba Inu surged over 1.5%. This brief window of time encapsulated the influence wielded by “whales,” or large-scale investors, over the price volatility in the cryptocurrency markets.

Moreover, the SHIB price appears to be on a recovery path, with an uptick of nearly 25% since its recent low of $0.00000591 last Saturday. This rebound illustrates the dynamism of the cryptocurrency market and the significant role large investors play in shaping it.

Meanwhile, Shiba Inu has shown a continuous uptick in the past 24 hours. SHIB which is one of the largest meme coins by market capitalization has recorded a brewing rally up by 3% in the past 24 hours.

Shiba Inu (SHIB) price chart on TradingView
Shiba Inu (SHIB) price is moving sideways on the 4-hour chart. Source: SHIB/USDT on TradingView.com

At the time of writing, Shiba Inu currently trades at $0.00000678 after trading below $0.00000600 on Tuesday. Interestingly, despite the current uptick, SHIB’s trading volume has plunged a bit from $185 million this time last week to $104 million in the past 24 hours.

However, the meme coin’s market capitalization has seen a more than $700 million loss in the past 7 days. SHIB’s market cap has plunged from $4.7 billion last Tuesday to $3.9 billion as of today.

Related Reading

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Shiba Inu (SHIB) Price Could Soar To Major Highs Soon, Here’s Why

2 years ago

In other news, the upcoming launch of Shibarium has cast a cloud of uncertainty over the Shiba Inu community due to some recent developments. Initially, LucieSHIB, a well-known advocate for Shiba Inu, set expectations for the launch of the eagerly awaited Shibarium mainnet, suggesting a timeframe between the second and third quarters of 2023.

Nonetheless, according to recent posts from the same individual, the launch might experience a postponement from its initial projected timeline, causing a wave of speculation among market participants and aficionados.”

Featured image from Shutterstock, Chart from TradingView

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Samuel Edyme
Samuel Edyme

Samuel Edyme

Meet Samuel Edyme, Nickname - HIM-buktu. A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others.

Read more

Edyme’s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis.

Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events—like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ’s arrest—has honed his keen sense of market dynamics.

When he isn’t crafting engaging crypto content, you’ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he’s catching some Z’s or scrolling through Elon Musk’s very own X platform—(oops, another screen activity, my bad…)

Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters—(don’t judge, that’s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or “kaizen,” striving to be 1% better every day. His mantras, “God knows best” and “Everything is still on track,” reflect his resilient outlook and how he lives his life.

In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He’s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck—unflappable. Edyme is like trading in your car for a jet—bold. He’s the guy who’d ask his boss for a pay cut just to prove a point—(uhhh…). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent—okay, maybe that’s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps.

Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That’s just not the way he roll. He has these favorite lyrics from NF’s “Clouds” that resonate deeply with him: “What you think's probably unfeasible, I've done already a hundredfold.”

PS—Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He’s 100% Him-alayan. Screw it, he ate the opp.

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