Over the past 20 hours, a mysterious whale that had held an enormous amount of Shiba Inu meme coins has sold a great deal of them at a massive financial loss. Shiba Inu is the second largest meme-inspired cryptocurrency and has been close to burning the fifth zero in its price.

Mysterious Whale Unloads Billions of SHIB

According to data provided by @spotonchain, the whale sold 421.6 billion SHIB at an average price of $0.000009437. The sale took place on both Binance and DEX (most likely, the Binance DEX in this context) — 311.6 billion Shiba Inu were sold on the Binance exchange and 110 billion SHIB were disposed of through the DEX.

The data also shows that the whale purchased these hundreds of billions of SHIB on HTX and Binance in November 2021. Prior to the current sale, the whale had held them for almost 2.5 years.

Whale 0x30e allegedly sold 421.6B $SHIB ($3.98M) at ~$0.000009437 in the past 6 hours, including:
  • deposited 311.6B $SHIB ($2.97M) to #Binance
  • sold 110B $SHIB for 1.01M $USDT on DEX

If the sale is confirmed, the whale will likely incur a significant loss of $6.32 million.

SHIB Price Nears Zero Removal

Despite the whale’s massive sale, the price of SHIB has remained relatively stable. The meme coin has seen a 3% increase in the past 24 hours and is now trading at $0.00000962 on the Binance exchange. This brings it close to the $0.00001 level, where one zero would be burned.

SHIB Burns Increase

The SHIB burn rate has also seen a recent increase. The Shibburn transaction tracker reports a 55.12% increase, with 52,059,153 SHIB transferred to unspendable wallets. The largest burn took place six hours ago, sending 42,058,800 SHIB to a dead-end blockchain address.