In a recent tweet by @lookoncain, intriguing movements by crypto whales have caught the attention of the community. The largest holder of $SHIB reportedly accumulated a staggering 1.5 trillion $SHIB tokens (equivalent to $10 million) from prominent exchanges Binance and Coinbase just four hours ago.
Address “0x40B3” is now the proud owner of 5.3 trillion $SHIB tokens, valued at approximately $35.5 million. Notably, this whale made a significant transfer of 20 trillion $SHIB tokens (approximately $134.4 million) to address “0x73AF” on May 16. This whale stands out as the largest holder of $SHIB, excluding exchanges.
More whale activity
In a separate development occurring 18 hours prior, another whale activity took place. A prominent Bitcoin (BTC) whale made a deposit of 1,800 BTC (equivalent to $46.7 million) to the renowned exchange, Binance, just 30 minutes ago.
This particular whale has been accumulating BTC since January 11 and has withdrawn a total of 5,867 BTC (equivalent to $162 million) from Binance. Notably, the average withdrawal price was recorded at $27,702. The question now arises whether this whale will decide to sell their BTC holdings at a loss.
These recent activities by crypto whales have sparked speculation within the community. The substantial accumulation of $SHIB by the largest holder, excluding exchanges, raises curiosity about their intentions and the potential impact on the token’s value. Similarly, the BTC whale’s withdrawal history and the possibility of a sale at a loss leave room for conjecture regarding their trading strategy and market sentiment.
As the crypto market remains dynamic and unpredictable, tracking whale movements provides valuable insights into investor behavior and can shape market trends.Â
