thecryptobasic.com
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.
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%.