Earlier this week, the meme-inspired cryptocurrency Shiba Inu experienced an enormous spike in large transaction volume, totaling 9 trillion SHIB. The token experienced a roller-coaster of price during this period, with its value dropping by 30% before skyrocketing even higher.

Significant Whale Activity Continues

The activity among large holders did not stop there. A previously unknown whale, operating from the address “0x4B5,” attracted significant attention by withdrawing approximately 220 billion SHIB, equivalent to $3.04 million. The accumulation occurred in two tranches, with most of the tokens withdrawn 22 hours ago and the remaining 3.55 billion SHIB withdrawn seven hours later.

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Consequently, the anonymous entity has already realized a gain of $114,370 on their Shiba Inu (SHIB) investment. Arkham Intelligence reported that the tokens were initially withdrawn from Coinbase Prime Custody, indicating that an institution or qualified investor likely stands behind the unknown buyer.

Price Surge For Shiba Inu

Meanwhile, the price of Shiba Inu continues to soar, reaching $0.0000137 at the time of writing, a 2% increase. At the lowest point of the recent market shakeout, SHIB hit $0.000011, resulting in a 29% increase in nearly three days. 

_{Source: CoinMarketCap}

The surge stands out, considering Shiba Inu is already a multi-billion dollar asset. The recent withdrawal of 220 billion SHIB by a mystery whale highlights the ongoing interest and significant transactions within the Shiba Inu market. 

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The resulting surge and substantial returns for the anonymous investor underscore the dynamic and often volatile nature of cryptocurrency investments. 

As SHIB continues to gain traction, its market movements will undoubtedly remain a focal point for investors and analysts alike.