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SHIB Whales Take Advantage Of Price Plunge, Pull In 1.6 Trillion Of The Memecoin

Written by: Qadir AK

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Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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Sep 14, 2022

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Recently, a Twitter user has revealed that several massive chunks of the meme coin Shiba Inu have been shifted on the Ethereum chain over the past 24 hours, totaling more than 1.6 trillion SHIB. Clearly, the whales took advantage of SHIB’s big price plunge, in which SHIB lost more than 6% of its value earlier today.

An anonymous whale with 50,656,885,934 SHIB on Coinbase withdrew the holdings to his cold wallet. Etherscan shows that this whale bought three large chunks of SHIB, aside from this one – 80,960,690 SHIB, 130,204,348 SHIB, and 8,756,682.

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