Shiba Inu is on the Radar of the Largest Crypto Whale! Records US$2T Transaction

Quite undoubtedly, Shiba Inu is one of the favorite cryptocurrencies for crypto whales. The crypto has hit headlines before as Ethereum whales continued to hoard SHIB tokens, amid the drastic crypto market meltdown. SHIB's popularity under these adverse situations has definitely sparked confusion about the Shiba Inu price movements. Despite gaining support from some of the top ETH and crypto whales, Shiba Inu is still struggling to make its market in the crypto market, or at least topple Dogecoin from the top of the meme coin pyramid. Currently, Shiba Inu is making headlines again as it still continues to receive a reasonable level of attention from crypto whales and investors.

Crypto whales are buying and holding large quantities of SHIB. But it is different this time around because the meme coin is now being swallowed by one of the largest whales, which already holds hundreds of millions worth of coins. The sheer size of the transactions alone has impressed some of the strictest meme coin critics in the market. Reportedly, one of the largest Shiba Inu whales has recently transferred almost 2 trillion SHIB to its balance, which came to be valued at around US$22 million at the time of purchase. This transaction was conducted within a period of 24 hours, with more than US$300 million worth of Shiba Inu tokens held on its balance.

Large transactions like these are not uncommon for Shiba Inu, but the sheer size of this transaction is presently raising eyebrows. The identity of the particular wallet owner is still unknown, which is a major subject of security concern for law enforcement personnel and the community as well. There are several experts who predict that the wallet might belong to a private investor or maybe a team wallet, but it might also be an exchange wallet, which means that its balances could indirectly belong to thousands of investors. Currently, investors are quite excited to experience a bullish price rally in SHIB, after months of congested price movements.