An anonymous investor has withdrawn a staggering 107,071 billion SHIB tokens from ByBit, marking the first addition to their portfolio in over a year. This move comes amidst a period of volatility for SHIB, which experienced a 40% drop in price before rebounding. The whale's actions appear to contradict the general market trend, with on-chain data showing a surplus of SHIB flowing to exchanges. The impact of this whale's purchase on SHIB's future price remains to be seen.
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We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. A mysterious massive investor has recently made a significant purchase of Shiba Inu (SHIB) cryptocurrency, withdrawing 107,071 billion tokens from ByBit, one of the largest cryptocurrency exchanges, in the past 24 hours. This colossal amount of meme coins, estimated at $2.16 million per SHIB token at current prices, marks the first addition to this whale's portfolio in over a year. As of now, the wallet under the address '0x8c73' holds only SHIB and nothing else, although it previously held about 150 ETH, which would now be worth approximately $420,000. This latest purchase comes amidst a period of volatility for SHIB. The meme coin experienced a significant price drop, shedding as much as 40% from Saturday to Monday, leaving a substantial wick on its price chart. However, the market witnessed a rebound worth 40% in the following two days, bringing the price back up. Despite this rebound, SHIB remains down from its previous highs. Interestingly, this whale's actions appeared to be against the general market trend. On-chain data from Arkham Intelligence reveals a surplus of 83 billion SHIB flowing to exchanges yesterday, with the largest flows observed on ByBit. This suggests that many smaller investors were selling off their SHIB holdings, while this anonymous buyer was accumulating.The actions of this unknown buyer raise several questions. Will they maintain their bullish stance on SHIB, or will they be swayed by the prevailing market sentiment? The future price movement of SHIB remains uncertain, and this whale's significant purchase could have a substantial impact on its trajectory. It will be crucial to monitor the behavior of this whale and the overall market sentiment in the coming days and weeks to gain a better understanding of SHIB's potential direction.
SHIB Whale Bybit Cryptocurrency Market On-Chain Data
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