Shiba Inu whale sells 100B SHIB, price jumps 63.8%
An inactive Shiba Inu (SHIB) whale has sold 100 billion SHIB tokens, equivalent to a value of 2.85 million USD. Despite this large transaction, the price of SHIB rose by 16.34% within a day and also recorded a weekly increase of 63.8%. This development indicates that market participants, especially other whales and smaller investors, continue to have confidence in the cryptocurrency.
Whale Sells 100 Billion SHIB
A so-called “whale” (an investor who holds a large amount of cryptocurrency) recently sold 100 billion SHIB tokens. This transaction was valued at 2.85 million USD. Interestingly, this whale originally purchased 15.28 trillion SHIB in August 2020 for just 3,800 USD. Despite the sale, the investor still holds 2.5 trillion SHIB, which is currently worth approximately 75.2 million USD.
Market Absorbs the Sale
Normally, one would expect the price of a cryptocurrency to drop when a large investor sells such a significant amount. However, in this case, the sale was absorbed by other whales actively accumulating SHIB. This shows that confidence in the cryptocurrency remains high. According to data from “IntoTheBlock,” whale activity has increased in recent months, reaching a peak in August with 1,120 large transactions.
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Retail Investor Activity Increases
Not only whales, but also smaller investors and so-called “sharks” (investors with medium holdings) are currently very active. The number of active addresses, i.e., wallets conducting transactions, has reached a 9-month high. According to “CryptoQuant,” there were 16,500 active addresses at the time of analysis. This suggests that retail investors are also increasingly showing interest in SHIB.
Shiba Inu Price Development
Despite the whale’s sale, the price of Shiba Inu shows strong upward movement. The price increased by 16.34% within 24 hours, reaching 0.00002893 USD. On a weekly basis, SHIB recorded a rise of 63.84%, and on a monthly basis, the price is up 62.78%. This positive development indicates that the cryptocurrency is benefiting from strong buying interest and is in an upward trend phase.
Why Are Prices Rising?
One reason for the price increase could be the growing activity of both whales and retail investors. Additionally, the so-called MVRV (Market Value to Realized Value) indicator, which measures the ratio between the current market value and the realized value of a cryptocurrency, shows positive development. The MVRV for SHIB rose to 3.55% last week, indicating that many long-term investors are currently in profit and continue to believe in SHIB’s future value appreciation.
Our Assessment
The recent developments surrounding Shiba Inu show that despite large sales volumes, confidence in the cryptocurrency remains high. Whales and retail investors are actively accumulating, indicating positive market sentiment. The price increase despite a large investor’s sale shows that SHIB is currently benefiting from strong demand. If these market conditions persist, the price of SHIB could continue to rise.
| Symbol | DOGE |
| Coin type | Alt Coin |
| Transaction Speed | Medium |
| Pros |
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| Cons |
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| Price | $0.42 |
| 24h % | 0.46 % |
| 7d % | 5.85 % |
| 30d % | 177.98 % |
| 60d % | 284.74 % |
| 1y % | 365.79 % |
| Market Cap | $61,692,132,724.00 |
| Official Links | Website | Source Code |
| Socials | Reddit | X |
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