October’s Largest Whale Buys ~4 Trillion Tokens Worth $43 Million

A mysterious and unidentified Shiba Inu whale purchased nearly 4 trillion SHIB tokens worth a staggering $50 million on Thursday. The transaction can be called the biggest whale transfer recorded in October 2022 for SHIB. The anonymous address picked up 3,914,263,607,418 Shiba Inu tokens for $42,704,615.

You can go through the enormous SHIB transaction details from Etherecan.io here.

Also Read: $1,000 Investment in Shiba Inu Turns Into $19 Million in October 2022

The identity of the whale remains to be a mystery and the reason for the large purchase is unknown. It is not known if the whale is taking an early entry position before the Shibarium documentation release.

The ETH-rich list has been splurging on Shiba Inu since mid-2021, and the trend didn’t slow down even during the bear markets this year. Both whales and retail investors alike believe SHIB can deliver the desired financial results in the long run. This blind faith in the token alone is what’s keeping SHIB afloat in the markets despite the harsh conditions.

Also Read: Will Shibarium Burn 100 Trillion Tokens? Shytoshi Responds

Just recently, another whale picked up nearly 166 billion SHIB tokens worth $1.87 million. You can read more details about the whale transactions in October 2022 here.

In addition, another whale moved nearly 3.3 trillion SHIB tokens on Wednesday. The exact reason for the transfer is unknown and it’s unclear whether the whale transferred or dumped the tokens. You can read more details about the 3.3 trillion SHIB token transaction here.

Also Read: Can Shiba Inu Make You A Millionaire By 2030? Here’s Your Answer

Shiba Inu: The Tale of Shibarium & Bone

Shiba Inu is attracting buying pressure as investors are keen on taking an early entry position before the Shibarium layer-2 network’s release. Shibarium’s governance token Bone outperformed SHIB in price jumping 23% this week, while Shiba Inu was up only 10%. Bone will be used as gas on the Shibarium network making it get an important use case in the ecosystem.

Therefore, both Shiba Inu and Bone are rallying in the hopes of a Shibarium documentation release. However, the tentative release date for Shibarium documentation remains to be unknown. Unification, the firm that building the L2 network confirmed in the blog post that Shibarium will be out “sometime shortly thereafter” post Q3 of 2022.

Also Read: ShibaEternity Criticized by Community, Ask For Shibarium Instead

At press time, Shiba Inu was trading at $0.00001085 and is up 4% in the 24 hours day trade. On the other hand, Bone was trading at $1.10 and is up 6.3% in the day’s trade.