After nearly seven months of silence, a major holder of Shiba Inu tokens has become active again, transferring a substantial amount of SHIB to the Binance exchange.
Wallet's Return
According to data from Arkham Intelligence, a wallet ending in F75a transferred 39.99 billion Shiba Inu tokens to Binance. At the time of the transaction, this amounted to approximately $491,590, indicating a continuity in the wallet's behavior, as it had previously used the same Binance address.
Accumulation Strategy
On-chain analysis reveals that this wallet originally received a total of 60 billion SHIB from various Binance hot wallets around eight months ago, when the token's price was significantly higher. A month later, it transferred 20 billion SHIB, followed by another 20 billion.
Current State of the Wallet
Currently, the wallet holds almost just one ETH, bringing the total value of the address to $3,573. This figure has increased by about 2.96% due to the modest price rise of ETH. Meanwhile, the price of Shiba Inu is around $0.0001240, following another failed breakout attempt in July.
It is unclear whether the whale anticipated this outcome or decided to act after a long wait. However, the size and precision of this latest move suggest it was not random.
