As Shiba Inu Falls 12%, Major Investor Accumulates 477.5B SHIB
Significant whale accumulations have followed Shiba Inu price dips, with one investor now controlling a portfolio of 477.5 billion SHIB tokens.Today, Shiba Inu (SHIB) faced a notable price decline, dropping to $0.00001832. The token experienced an 8.23% drop in the last 24 hours and a 12.25% decrease over the past week.However, amid the downturn, on-chain data indicates a significant accumulation event, with a whale transferring 257.51 billion SHIB from Binance to a private wallet.Major Shiba Inu Whale TransactionsThe wallet involved in the latest transfer now holds 477.5 billion SHIB, valued at approximately $8.57 million or 2,790 ETH. This transaction follows a prior 219.99 billion SHIB transfer from Binance to the same wallet 25 days earlier. Historically, large inflows to private wallets often suggest accumulation, while flows to exchanges indicate potential sell-offs.https://twitter.com/lookonchain/status/1883852444284969066Further examination of past transactions revealed consistent inflows and outflows between wallets. Data from 172 days ago showed an outflow of 65.28 billion SHIB to a crypto exchange, while 176 days ago, the same wallet received 64.51 billion SHIB from Binance. Ownership Trends and Surging Burn DataMeanwhile, a breakdown of SHIB ownership trends highlighted substantial changes in distribution. Over the last seven days, whale SHIB ownership dropped by 57.11%. However, a 30-day change showed a sharp increase of 168.57%, while the 90-day accumulation surged by 242.15%, reinforcing a strong accumulation phase over the past three months.
Text source: The Crypto Basic
