Shiba Inu Whale makes $500 Million transaction

A Shiba Inu Whale has made a $500 Million transaction from one account to another. Let’s find out more about this.

Introduction

A Shiba Inu Whale by the name of ‘Hulk’ has made headlines after transferring Shiba Inus worth more than $500 million. The whale transferred those tokens that were previously purchased to another account.

The details of this transaction were provided by the popular Whale Tracker website, WhaleStats. The transactions were recorded in which the whale which goes by the pseudonym ‘Hulk’ transferred almost $470 million of Shiba Inus to the account ‘Hulk 2’. The original account of the whale ‘Hulk’ now holds about 4 million dollars worth of Shiba Inus.

Identity of the account

It’s close to impossible to pinpoint who’s the owner of the ‘Hulk’ and ‘Hulk 2’ accounts. Due to the decentralisation of the network, no information about the owner is available.  

Some people speculate that an organisation is stockpiling these tokens for some big operation in the future. The huge amount of money in the account can imply that this account is of an organisation rather than an individual.

Further, some users suspect that the popular Crypto trading company, Robinhood is behind this transaction. Robinhood was previously teasing about listing the currency on its application. If this is the case, then we’re going to find out soon.

Previously we talked about how an Ethereum Whale ‘Jiraiya’ munched about 99 Billion Shiba Inus in two separate transactions. The Ethereum Whale has purchased about 4.5 million dollars worth of Shiba Inus in two separate transactions. We discussed this in an earlier article.

Conclusion

Cryptocurrencies and Blockchain Technology are getting swarmed with Whales, it’s wise to know their moves as they have the potential to manipulate the market easily. This Shiba Inu Whale making a $500 Million transaction is an action to watch.

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