Shiba Inu Whale Moves $3M in SHIB Amid Ongoing Selling Pressure

A Shiba Inu whale has made another large transfer of SHIB tokens, worth about $3.09 million at current prices. The wallet moved 600 billion SHIB, adding to its history of significant activity in the meme coin's supply.

The whale acquired 1.03 quadrillion SHIB in 2020 for just 37.8 ETH, then worth around $13,700. At the time, this represented roughly 17.4% of Shiba Inu’s total supply. The position reached an estimated value of $9.1 billion at SHIB's 2021 peak.

The wallet has sold an estimated 10.06 trillion SHIB over time, generating about $66.6 million in revenue. Despite these sales, the address still holds around 93.27 trillion SHIB, worth about $478 million and representing more than 1.5% of the circulating supply.

The transfer does not confirm an immediate sale, as the tokens could have moved between wallets or custody addresses. The size of the remaining balance keeps the Shiba Inu whale relevant to SHIB market activity, with any future transfer from the address potentially drawing attention due to its large share of circulating supply.