A 400 Billion Shiba Inu Surprise: Whale Wallet Springs Back To Life
Over $382,000 in Shiba Inu futures were liquidated in one day, mostly from long positions, as SHIB came under heavy pressure. At the same time, a previously dormant wallet holding nearly 400 billion SHIB reactivated after about 10 months and moved out 399,989,999,938 tokens in several transactions through BitGo infrastructure, leaving just 110 SHIB behind. The transfers may have been an OTC move or a transfer to cold storage, so they do not necessarily mean the tokens were sold on open markets. Still, the timing stood out because SHIB was already falling with the broader crypto market. The token dropped 16% over the week, broke below the $0.000005 support level, and was last trading around $0.000004535. Its market cap slipped to about $2.65 billion, leaving it near 29th place by market value.
