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An early Shiba Inu whale has resumed large-scale selling after a month of inactivity, moving nearly 600 billion $SHIB worth $3.09 million.
According to Arkham data, the whale moved the tokens in two transactions. The whale first transferred 280 billion Shiba Inu tokens before sending another 320 billion $SHIB in a separate transaction.
Notably, the whale sent both transfers to a Forwarder address associated with distribution activity, which subsequently moved the tokens to an address affiliated with BitGo. This transfer pattern suggests that the whale could be preparing the tokens for sale or exchange, potentially adding further selling pressure to $SHIB.
Whale Bought 103 Trillion $SHIB for $13,700
The whale’s history makes the latest transaction particularly significant. The address acquired 103 trillion $SHIB in August 2020, around the time Shiba Inu launched. At the time, the whale spent just $13,700 to build the massive position, which represented 17.4% of $SHIB’s total supply.
The investment later generated extraordinary gains. During $SHIB’s all-time-high period in October 2021, the whale’s holdings reached a value of $9.1 billion.
Despite the enormous appreciation, the whale did not immediately liquidate its position. Instead, it sold only a portion of its holdings before becoming largely inactive for several years.
Dormant Whale Resumes $SHIB Sales
The whale has now returned to the market in 2026 and has gradually transferred portions of its enormous $SHIB holdings.
Notably, the latest 600 billion $SHIB movement follows a similar transfer previously linked to the same wallet. Before the latest transaction, the whale’s most recent $SHIB sale occurred a month ago.
With these transactions included, the whale has sold approximately 10.06 trillion $SHIB so far. Nevertheless, the whale still controls a substantial position. The address currently holds 93.27 trillion $SHIB, worth around $485.94 million at a $SHIB price of $0.0000052.
This means the whale could still exert significant influence on $SHIB’s market dynamics if it continues moving large portions of its remaining holdings.
$SHIB Exchange Inflows Signal Rising Distribution
Meanwhile, the whale’s activity coincides with broader signs of increased $SHIB distribution across exchanges.
According to CryptoQuant data, exchanges recorded a net inflow of 189.18 billion $SHIB over the past 24 hours. In other words, wallets deposited more $SHIB into trading platforms than they withdrew during the period.
Generally, investors transfer tokens to exchanges when they intend to sell, trade, or otherwise deploy their holdings. Therefore, sustained positive exchange netflows can indicate rising potential selling pressure.