In a significant development for the Shiba Inu (SHIB) community, the largest SHIB token holder, identified as the whale address “0x1406,” has emerged from a 157-day dormancy period. The whale, known for its massive holdings of SHIB tokens, recently distributed 4 trillion SHIB tokens worth approximately $29.8 million to eight newly created wallets. This move has garnered attention due to its potential connection to the upcoming Shibarium mainnet and the release of the “Worldpaper” by Shytoshi Kusama, the lead developer of Shiba Inu.
A giant whale with 101.47T $SHIB($756M, 10.15% of the total supply, probably the largest holder) transferred 4T $SHIB ($29.8M) to 8 fresh addresses today.
The whale has not made any large transfers for 610 days.https://t.co/3yewExpQa4 pic.twitter.com/LvVCKVnrSJ
— Lookonchain (@lookonchain) July 13, 2023
According to Lookonchain, the whale holds a staggering 10.15% of the total SHIB token supply, amounting to 101.47 trillion SHIB tokens worth an estimated $756 million. The address has been accumulating and distributing SHIB tokens to various addresses for 610 days, often taking advantage of buying opportunities during dips in the market.
Notably, in 2020, the whale acquired 103.33 trillion SHIB tokens with 38 ETH (approximately $14,000). Subsequently, it sold 603 billion SHIB for 2411 ETH, equivalent to $9.6 million, and sold 1.25 trillion SHIB tokens worth $8.77 million to the cryptocurrency exchange Coinbase in 2021. As of now, the whale continues to hold 101.47 trillion SHIB tokens, which are spread across 23 different wallets, collectively valued at $756 million.
Whales Recent Transaction
Spot on Chain reported that the whale’s most recent transaction occurred 157 days ago when it purchased 7,049 SHIB tokens. The main wallet, “0x1406,” still retains a substantial balance of 6.20 trillion SHIB tokens, equivalent to approximately $46 million.
a $SHIB whale 0x140 woke up after 157 days and distributed 4T $SHIB ($30M) to 8 fresh wallets around 16 hours ago.
Notably, he once used 37.81 $ETH ($12.5K) to buy 103T $SHIB in 2020, worth up to $8.16B at peak.https://t.co/sWP9ustbSh
— Spot On Chain (@spotonchain) July 13, 2023
This news comes in anticipation of the release of the long-awaited L2 Shibarium, which was confirmed by Shytoshi Kusama, the lead developer of Shiba Inu, during the Blockchain Futurist Conference in Toronto, Canada, scheduled for August 13-17, 2023. The Shiba Inu ecosystem will also introduce the Doggy DAO and SHIB DOGGY DAO FOUNDATION, responsible for executing the DAO’s decisions and managing its assets.
While the SHIB token price experienced a slight decline of over 1% from its 24-hour high, currently trading at $0.00000746, Shibarium’s gas token Bone ShibaSwap (BONE) has seen an impressive rally of 82% in the past month. The community speculates that BONE’s price may reach $3 following the Shibarium release. As of now, BONE is trading at $1.29, reflecting a 1% increase in the past 24 hours.
