Whales Moved for SHIB Coin and Those 6 Altcoins: They Are Selling!

While the crypto market has been calm as of June 11, there are interesting movements in some coins. Whale movements, especially in Shiba Inu (SHIB coin) and other altcoins, attract the attention of investors.

Whale accumulation for SHIB coin attracts attention

In general market movements, large investors buying in valuable quantities generally creates a positive atmosphere. In this context, a massive purchase of 600 billion SHIB has increased optimistic market sentiments regarding the future price movements of the token. According to the information of the on-chain tracker named Whale Alert, on June 11, a transfer of 600 billion SHIB, i.e. approximately $13.71 million, was made from Robinhood to the unknown wallet address 0x73af3bcf. At the time the transaction took place, the SHIB price was at $0.000022.

Experts had previously reported that the same address transferred 3 trillion SHIB to Robinhood when the SHIB price was $ 0.000025. This has stimulated market sentiments that the whale is potentially implementing a “fall-taking” strategy and is re-entering the market, signaling future gains.

However, despite the large accumulation mentioned above, Shiba Inu experienced a price decline today despite encountering significant buying pressure. This drop is likely related to the 4.29 trillion SHIB moved to Coinbase by ten different wallets today, according to information provided by “The Data Nerd.” The average entry price for these wallets is $0.00001309, which if sold for a profit would allow investors to make a profit of $41.22 million at the current price.

Other whale movements

There were also different movements in altcoins other than SHIB. According to Spot On Chain data, approximately 33 minutes ago, a whale deposited 755,000 PENDLE (approximately 3.83 million USD) to Binance. The wallet still has 4.27 million PENDLE worth approximately $21.7 million USD and its total profit is estimated at $22.8 million USD (+843%).

According to The Veri Nerd information, 2 hours ago, 3 wallets received 647 million LEVER (approximately 2.6 million USD) from a multi-signature wallet and deposited it all to Binance. Transferring 2.6% of the token supply in this way carries the risk of causing sudden fluctuations in the LEVER price. In other news, an Ethereum ICO participant transferred 2,000 ETH (about $7.36 million) to an exchange and the remaining 3,997 ETH to a new wallet.

Additionally, according to Scopescan information, on June 11, a whale address withdrew 256 billion PEPE (approximately $2.9 million) from Bybit. Address deposited 200 billion PEPE (about $2.8 million) into Bybit in May and is currently accumulating PEPE again, holding a total of 291 billion PEPE (about $3.5 million).