A mysterious Shiba Inu ($SHIB) whale has moved its 3.37 trillion token stash in a large transaction that has caught the attention of the SHIBArmy for its size. It isn’t known what entity is behind the transaction.
Analysis from the Ethereum blockchain’s data shows that the 3.37 trillion $SHIB stash has been moved across a series of wallets over the last few months – all of them with now relatively small balances – before ending up at its current address.
The address in which the tokens are being held does not have any ETH on it, which suggests that it’s part of a larger wallet with more tokens. It isn’t clear whether the funds belong to a cryptocurrency exchange that’s organizing its cold wallet storage, or to an investor boosting the security of their $40 million worth of the meme-inspired cryptocurrency.
Also read: Who Created Shiba Inu ($SHIB)?
As CryptoGlobe reported, the median hold time that users on the Nasdaq-listed cryptocurrency exchange Coinbase hold onto the meme-inspired cryptocurrency Shiba Inu ($SHIB) before either selling it or moving it to an external address, has now surpassed the six-month mark.
The typical hold time for Shiba Inu investors on the platform is now 183 days, above the typical hold time of other major cryptocurrencies including Bitcoin ($BTC), Ethereum ($ETH), Cardano ($ADA), and Solana ($SOL).
Shiba Inu holders are likely HODLing onto their assets as even after the project’s founder departed, developers and the community kept on running Shiba Inu, and new popular solutions are being launched in the near future.
These include Shibarium, a layer-2 blockchain to which SHIB tokens could be migrated for lower transaction fees, and SHIB: The Metaverse, a Shiba Inu-themed metaverse from which users have already started buying land.
Moreover, developers are also working on Shiba Eternity, a trading card game highly expected by the community, which had its first sneak peek at the gameplay after Kusama announced the first successful test for Vietnam players on iOS devices.
Featured image via Pixabay