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A Shiba Inu whale moved 4 trillion SHIB tokens, worth $99 million, to a new address during a market consolidation phase. This major transaction caught the attention of the Shiba Inu community.
Details of the Transaction
On November 14, wallet address “0x42219” transferred 4 trillion SHIB to “0x633be” at 20:45 UTC. The tokens, valued at $99 million, were sent at an average price of $0.00002475.
4,000,000,000,000 #SHIB (99,005,333 USD) transferred from unknown wallet to unknown wallethttps://t.co/Qz6SULjznA
— Whale Alert (@whale_alert) November 14, 2024
The sender, “0x42219,” ranks as the ninth-largest SHIB holder, controlling over 7 trillion SHIB (0.7302% of the total supply). The recipient address, “0x633be,” appears new, with just one previous transaction. Earlier that day, the wallet received 100,000 SHIB ($2.37) as a test transfer from the same sender.
Related article: Shiba Inu (SHIB) Aligns with Elliott Wave Pattern: What’s Next?
The receiving wallet now holds 4,000,000,100,000 SHIB, currently valued at $94.7 million. On-chain data confirms that both wallets belong to BitGo, a digital asset custody firm. This indicates the transfer was an internal fund reorganization, posing no immediate impact on the broader market.
Shiba Inu Price Performance
The whale’s transfer coincided with a market-wide consolidation following a bullish surge. SHIB’s price has dropped 7.76% in the last 24 hours to $0.00002368. It also fell 24.25% from its weekly high of $0.00002943 on November 12.
Related article: Shiba Inu Gains 67% as Early Investor Secures $123 Million Profit
Despite the decline, SHIB remains 22.81% higher than its weekly low of $0.00001926, recorded at the start of the week. Shiba Inu’s marketing lead, Lucie, remains optimistic about further price gains.
She predicted the next rally could push SHIB to $0.00006861, representing a potential 190% surge from its current value. As the market stabilizes, the community eagerly awaits the next price movement while tracking whale activities.
The post Shiba Inu Market Stays Resilient Amid $99M Whale Fund Shuffle appeared first on FXcrypto News.
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