The good news about shib is about to be realized, and the whales holding 4.3 trillion are starting to sell?

The alarming transfer of Shiba Inu Meme Coin was detected by Whale Alert, a popular blockchain tracker that tracks large cryptocurrency transactions and shares them on its website and Twitter (X).

This time, the anonymous wallet transferred nearly 4.4 trillion Shiba Inus, helping new SHIB whales emerge in the market. This is not the only SHIB transfer that has moved trillions of SHIB in the past few days. With the launch of the Shibarium blockchain in a week, large-scale purchases of Shiba Inus are currently underway.

13 trillion SHIB will be added to new wallets this week

According to the data shared by the aforementioned platform, 4,367,252,578,938 Shiba Inu tokens worth $39,276,886 were transferred from one anonymous wallet to another; the latter was brand new and had not made any transactions before. Since Whale Alert did not mark the sending or receiving wallets as linked to any cryptocurrency exchange, they were marked as "unknown wallets." It seems that this is a new whale that bought nearly 5 trillion Shiba Inu meme coins.

However, this is not the first transaction of this size that Whale Alert has discovered this week.

On Sunday and Monday, tracking services noticed that large blocks of 4,382,252,578,938 SHIB and 4,412,252,578,938 SHIB were also moved to new “unknown” wallets. On Monday, IntoTheBlock on-chain data provider reported that large SHIB whales had captured about 11 trillion SHIBs. In just 48 hours, a staggering amount of meme coins were snatched.

SHIB price plummets

After a massive price increase from Friday to Saturday, which saw the Shiba Inu price rise by more than 19% and burn a zero, the price subsequently plummeted and is now down 12.24% as of now. At press time, the main dog-themed cryptocurrency is trading at $0.00000896 on the Binance exchange.

The possible reasons for the surge are the oversold SHIB market, the trust of a large number of investors, and the expected release of the second-layer blockchain Shibarium in about a week. However, after the sharp rise, many traders began to sell to lock in profits; therefore, the price fell. In the short term, the good news for shib is approaching. If you haven't bought it, don't chase the rise. Wait until it falls back before continuing to layout! The comment section discusses how many zeroes the bull market target of shib will be.