• An early Shiba Inu whale address that had been dormant for 2.6 years has reawakened.
  • The whale purchased 323 billion SHIB tokens using wrapped Ethereum (WETH) in a span of three hours.
  • The whale initially received 167 billion SHIB in April 2021, staked them for three months, and then sold them off in October 2021 for a $5 million profit.

An early Shiba Inu whale address that had been dormant for 2.6 years has suddenly sprung back to life, purchasing a staggering 323 billion SHIB tokens using wrapped Ethereum (WETH) in a span of just three hours.

An early buyer-linked whale just swapped 1K $WETH ($3.83M) for 149.3 $SHIB in the past hour!

The whale’s last $SHIB activity was selling 167B $SHIB ($6.13M) 3 years ago. These tokens were received from a super early buyer who bought 5.16T $SHIB with only 45 $ETH ($63.7K) on Mar… pic.twitter.com/ZrFkYZwtEB

— Spot On Chain (@spotonchain) June 5, 2024

The blockchain surveillance platform Spot on Chain was the first to bring attention to this whale’s recent activities, highlighting the importance of the transactions.

Interestingly, the address in question had initially received 167 billion SHIB back in April 2021, a mere eight months after the launch of Shiba Inu, with the tokens being sent from one of the earliest whales who had interacted with SHIB upon its inception.

Following the receipt of the 167 billion SHIB, the whale address proceeded to stake the entire amount in July 2021, only to unstake the tokens three months later on October 24, 2021, securing an additional 12.9 million SHIB in the process. On the same day, the whale made the decision to sell off all 167.012 billion tokens, marking the end of their Shiba Inu holdings at the time.

Recent Shiba Inu Accumulation by the Whale

After the selloff in 2021, the whale address remained inactive until now, with the bull market seemingly on the verge of gaining full momentum, the address has reawakened with a vengeance.

This time around, the whale executed an astonishing 156 transactions, involving millions to billions of Shiba Inu tokens, all within a timeframe of just over two hours, spanning from 01:43 to 03:48 UTC.

At the time of Spot on Chain’s initial disclosure, the whale had already acquired 149.3 billion SHIB using approximately 1,000 wrapped Ethereum (WETH), valued at $3.83 million. However, following the platform’s report, the whale continued their buying spree, procuring an additional 173 billion SHIB tokens.