Shiba Inu token saw a whale transfer 600 billion $SHIB—valued at roughly $2.83 million—to the ForwarderV4 address on Monday.
Whale Transfer Details
Arkham’s blockchain analytics traced a wallet that initially bought $13,752 worth of Shiba Inu in August 2020, amassing about 103 trillion $SHIB. The same address moved approximately 600 billion $SHIB to ForwarderV4, a destination linked to token distribution. The transaction’s market value sits near $2.83 million based on the current price.
Historical Context
The monitored wallet controls an estimated 17.4 % of Shiba Inu’s total market cap, a share that peaked when $SHIB climbed to $0.0000885 during the 2021 rally. At that high, the holdings were worth more than $9.1 billion, yet the owner remained largely inactive for years. On‑chain data reveal the address has shifted about 3.8 trillion $SHIB over the last month.
Market Impact
Shiba Inu’s price now hovers around $0.00000453, marking a multi‑year low and an 18 % drop for the month. The fresh outflow intensifies selling pressure, causing investors to reconsider exposure in a stagnant crypto market. Analysts caution that continued distribution by large holders could further depress the token’s price.