u.today
Analytics X account @lookonchain has reported that on June 5, a “crazy $SHIB buy” took place as cryptocurrency whales accumulated a staggering amount of Shiba Inu meme coins.
It coincided with the price of the second largest meme cryptocurrency, $SHIB, soaring by almost 8% within the past two days and a massive $SHIB burn rate jump noted within the last 24 hours.
Trillions of $SHIB absorbed by anon whales
@lookonchain revealed that nine wallets, which belonged to two anonymous whales, purchased a mind-blowing 1.356 trillion Shiba Inu, paying $35.2 million in fiat for them at an average price of $0.00002596 per meme coin.
What a crazy buy!
— Lookonchain (@lookonchain) June 5, 2024
9 wallets(2 whales) spent $35.2M to buy 1.356T $SHIB at an average price of $0.00002596 in the past 12 hours!
Address:
0xFB67EF6fE609edAb1e0595e6815634E8E4db9cF7
0xb2f1956eAE0817dB73C4D542A4861eE485B7e7c6
0x607C26c976272459A0896065E03a9b70C0Ef04B5… pic.twitter.com/yfSUyFSLQy
$SHIB whales seem to have become more active this week. Aside from the above-mentioned massive $SHIB buy, on June 5, the same analytics data source reported that an anonymous “super big $SHIB whale” accumulated 715.9 billion $SHIB meme coins. That cost him 4,849 $ETH, valued at $18.44 million at the time of performing the transaction.
This second $SHIB purchase was made by a whale who accumulated 5.5 trillion Shiba Inu in $SHIB’s early days for roughly $400 million and then sold that amount for approximately $121 million, when the $SHIB price reached two peaks. Thus, he made more than $120 million of pure profit on those trillions of $SHIB.
A $SHIB super big winner is buying $SHIB crazily, spending 4,849 $ETH($18.44M) to buy 715.9B $SHIB in the past 6 hours.
— Lookonchain (@lookonchain) June 5, 2024
This guy spent only ~$400K to buy 5.5T $SHIB in the early stage and sold for ~$121M at 2 peaks.
He made more than $120M on $SHIB before, an amazing gain!😱… pic.twitter.com/iREp5jfj75
The above-mentioned purchases took place as $SHIB whales became active this week and coincided with the meme coin’s price soaring by more than 10% on June 5, reaching a peak of $0.00002630. Then a slight rebound followed, taking the price down by 2.65%.
As of this writing, Shiba Inu is changing hands at $0.00002258.
$SHIB burns soar 3,895%
In the meantime, according to the Shibburn explorer, overnight, the Shiba Inu burn rate demonstrated an impressive surge, skyrocketing by almost 3,895%. A total of 4,829,147 $SHIB was transferred to unspendable wallets (i.e., burned) in total.
The largest burn transaction here carried 4,039,143 $SHIB to a dead-end wallet approximately 15 hours ago.