SHIB Whale Emerges Amid 55% Jump Over 3 Months
The positive performance of one of the market’s most prominent meme coins has led to the creation of one massive whale. Indeed, Shiba Inu has seen a 4.1 trillion SHIB whale emerge with the asset observing a rather remarkable 55% jump over the last 3 months alone.
Specifically, Whale Alert has noted a shift of SHIB over the last day. Indeed, they reported that the massive 4.19 trillion SHIB tokens worth more than $40 million were transferred between two wallets. Subsequently, a new whale has taken form with a new wallet housing the massive meme coin cache.
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SHIB Whale is Born With 4.1 Trillion Going to a New Wallet
The digital asset industry has certainly seen the prominence of meme coins increase. Once considered an unserious player in the overall industry, their utility has taken massive strides. Subsequently, they have noted an immense increase in their value among other digital assets.
Indeed, one of the most prominent is Shiba Inu, which has recently seen a new SHIB whale emerge with a 55% increase over the last 3 months. Specifically, Whale Alert noted that a shifting of tokens between two wallets has led to the creation of a brand new SHIB whale.
Also Read: Shiba Inu: Man Makes $70 Million but Ends Up With Only $4,000
The whale in question is now holding more than 4.1 trillion SHIB and is a brand new address. The identity of the wallet is currently unknown, and some have pondered it being part of a reshuffled wallet. Either way, the movement and activity are a key part of the jump that has taken place over the last altcoin season.
Shiba Inu is currently down 7% over the last 24 hours, and trading at $0.0000095 according to CoinMarketCap. Conversely, experts have identified a resistance zone ahead for the asset, with almost 90,000 addressing holding 422 trillion SHIB for $0.000016. How that shakes out should have implications on its price movement after 2023.
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