Mysterious Whale Withdraws $1 Million in Shiba Inu Amidst Price Surge

A mysterious whale investor has made a striking move in the Shiba Inu (SHIB) market, withdrawing a staggering 40.47 billion SHIB tokens, equivalent to $1.04 million, from Binance, the world's largest crypto exchange. The recipient wallet, identified as "0xB4F," has attracted attention due to its historical activity.

Records reveal that this is not the first substantial transfer for wallet address "0xB4F." Just three months ago, the same address moved 5.07 billion SHIB tokens. The source of these tokens traces back to another enigmatic wallet, currently holding 27.616 billion SHIB, valued at approximately $685,970. Presently, "0xB4F" holds an astonishing 45.54 billion SHIB tokens, worth around $1.13 million.

Source: Arkham Intelligence

The timing of this withdrawal coincides with a period of significant price volatility for SHIB. Over the past five days, SHIB has surged by nearly 20%, reaching $0.0000247. Analysts note a resistance level at $0.00003, with $0.00002 serving as crucial support.

SHIB to USD by CoinMarketCap

Amidst bullish sentiment in the market, speculation abounds regarding SHIB's potential trajectory. The withdrawal of a substantial SHIB volume by an undisclosed whale suggests a strategic move to capitalize on the anticipated uptrend, particularly the possibility of breaching the $0.00003 resistance level.