According to the Etherscan account, an investor who purchased $8,000 worth of Shiba Inu cryptocurrency in August 2020 has transferred nearly 40 trillion tokens from their wallet, totalling $2.76 billion.
Over four transactions, the transfer transmitted roughly 10,000,000,100,000 Shiba Inu tokens to four separate wallet accounts. There had been no previous token transfers to any of the four addresses to which the tokens were transferred.
Remember when everyone was wondering if the guy who turned 8k$ into 5 billion actually lost access to his wallet? Turns out he didn’t and just started moving some of his $SHIB
Address:https://t.co/Pok4lH0AUv pic.twitter.com/yyzb3OXcPm
— Devchart 👨🏻💻 (@devchart) November 3, 2021The token price has declined 1.91 percent since the transfers, which is a tiny amount compared to market volatility. Between 6:20 and 6:45 p.m. ET on Tuesday, the transactions took place. Each transfer amounted to nearly $600 million, or roughly 10 trillion tokens. Shiba Inu tokens were worth $0.000069 at the time. The owner had transferred $2,760,000,027.60 worth of Shiba Inu by the time all 40.004 trillion tokens were transferred.
The trades take place just one day after Shiba overtook Dogecoin as the tenth most valuable digital asset, with a market capitalization of $40 billion. The cryptocurrency’s largest spike occurred in late October, when it increased by 66 percent in a single day.
Over the last year, the so-called meme coin has increased by 103.2 million percent. According to Coinbase data, its price is still up 42.26 percent this week and 760.93 percent this month.
