Shiba Inu Whale Shifts $3M in SHIB as Selling Pressure Builds

TLDR

• A Shiba Inu whale transferred 600 billion SHIB, worth about $3.09 million at current prices.
• The wallet originally acquired 1.03 quadrillion SHIB in 2020 for just 37.8 ETH, then worth around $13,700.
• The whale has sold an estimated 10.06 trillion SHIB, generating roughly $66.6 million over time.
• The address still holds about 93.27 trillion SHIB, valued at around $478 million and representing more than 1.5% of the circulating supply.
• SHIB traded near $0.000005093, while futures and spot flows showed continued short-term selling pressure.
• The transfer does not confirm an immediate sale, as the tokens could have moved between wallets or custody addresses.

---

A Shiba Inu whale has moved another 600 billion SHIB, worth about $3.09 million at current prices. The transfer adds to years of activity from a wallet that once controlled a large part of the meme coin’s supply.

On-chain analyst Ember said the holder bought 1.03 quadrillion SHIB in 2020 for 37.8 ETH, then worth about $13,700. That amount represented roughly 17.4% of Shiba Inu’s total supply. At SHIB’s 2021 peak, the position reached an estimated value of $9.1 billion.

Shiba Inu Whale Continues Gradual Reduction

The Shiba Inu whale has reduced the original position over several years. Ember estimates the wallet has sold about 10.06 trillion SHIB for roughly $66.6 million, at an average price near $0.0000066 per token.

Despite those sales, the address still holds around 93.27 trillion SHIB. The remaining tokens are worth about $478 million at current prices. That balance represents more than 1.5% of SHIB’s circulating supply, keeping the wallet closely watched by traders.

SHIB Faces Selling Pressure in Derivatives

SHIB traded near $0.000005093 at the latest reading, down about 1.47%. The token also remained lower across the four-hour, 24-hour, and seven-day periods as selling pressure continued across both spot and derivatives markets.

CoinGlass data showed SHIB’s 24-hour spot volume at $17.9 million, compared with $45.7 million in futures volume. Open interest stood near $51.75 million. Futures recorded net outflows of about $213,490 in one hour, $383,540 over four hours, and $476,760 over eight hours.

Transfer Does Not Confirm Immediate Sale

The 600 billion SHIB movement does not confirm that the whale sold the tokens. Blockchain transfers can reflect internal wallet changes, custody moves, or transfers between addresses without creating direct market selling.

Still, the size of the remaining balance keeps the Shiba Inu whale relevant to SHIB market activity. Any future transfer from the address could draw attention because the wallet continues to hold a large share of circulating supply.

Traders liquidated about $63,620 in SHIB positions over 24 hours. Long positions accounted for roughly $49,250, while shorts represented about $14,370.

Spot flows also stayed negative across the same short-term periods. Market data now leaves traders watching whether the latest transfer remains an isolated wallet movement or becomes part of another round of selling. For now, on-chain data only confirms the transfer, while the wallet’s next transaction may offer evidence of its strategy.

The post Shiba Inu Whale Shifts $3M in SHIB as Selling Pressure Builds appeared first on Blockonomi.

Source: https://blockonomi.com/shiba-inu-whale-shifts-3m-in-shib-as-selling-pressure-builds/