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SHIB Shiba Inu's early giant whale quietly reduced its holdings, creating cryptocurrency history.
One of the earliest and largest holders of Shiba Inu (SHIB) is still quietly reducing its positions. This wallet address transferred approximately 600 billion $SHIBs, worth approximately US$3.09 million. This gradual exit process has been closely watched by analysts on the chain.
The background story of going from a $13,700 bet to a $9 billion position
is an extraordinary one. According to chain analyst Ember, the wallet originally purchased 103 trillion $SHIBs in 2020 for just 37.8 ETH (worth approximately US$13,700 at the time). The deal represents approximately 17.4% of Shiba Inu's total supply.
For many years since then, the holder did not make any significant operations on the position. Analyst Ember pointed out that as $SHIB peaks in 2021, the face value of the position has ballooned to a staggering $9.1 billion.
Since Bitcoin is intended to be scarce, while $SHIB is deliberately kept abundant, its total supply reaches a trillion pieces. As a result, controlling 17.4% of the supply from a single wallet for less than $14,000 remains one of the most high-profile transactions in the history of memin. This also makes every subsequent transfer attract attention.
Steadily withdraws, but the remaining positions are still huge
Over the years, the "giant whale" has been gradually reducing his positions. Ember estimates that the address has sold a total of 10.06 trillion $SHIBs, with an average price of approximately US$0.000066 each, with a total value of approximately US$66.6 million.
Despite these selling operations, the size of the position at the address remains huge. Currently, the address still holds approximately 93.27 trillion US $SHIBs, with a valuation of approximately US$478 million, accounting for more than 1.5% of the circulating supply.
Analysts caution against over-interpreting any single transfer. The latest market movements are not conclusive sell signals: large on-chain movements usually reflect rotation of funds between internal wallets rather than actual distributions, and exchange deposits associated with the 600 billion tokens have not yet been confirmed.
Given that the wallet continues to hold a large supply of liquidity, any future transfers from this address could raise concerns.
Market data overview
As of the latest available data,$SHIB is trading at around US$0.00005093, down 1.47% from the previous period. In the last 24 hours, spot trading volume of $SHIB reached $17.9 million, significantly lower than futures trading volume of $45.7 million.
According to CryptoQuant's data, net inflows to the exchange remain positive, indicating that more $SHIB tokens are deposited into the trading platform than withdrawn. In the past 24 hours, a net 695.4 billion tokens have entered the exchange.
