One of $SHIB's earliest and largest holders has resumed selling, raising fresh questions about supply pressure on the meme coin at an already difficult moment for its price. The anonymous wal
One of $SHIB's earliest and largest holders has resumed selling, raising fresh questions about supply pressure on the meme coin at an already difficult moment for its price.
The anonymous wallet originally bought 17.4% of the entire Shiba Inu supply, or 103 trillion tokens, in August 2020 for just 37.8 ETH, worth approximately $13,752 at the time. At the peak of the 2021 market rally, when SHIB hit $0.0000885, the stash was valued at more than $9.1 billion. Despite those outsized gains, the holder remained largely inactive for years, leaving the tokens untouched while the broader market cycled through multiple expansions and contractions.
Arkham Intelligence has indexed a series of large transfers linked to the wallet, which carries the tag "$13,752 bought 103 trillion SHIB" on the platform. The whale moved approximately 600 billion tokens, worth roughly $2.83 million at the time, to a ForwarderV4 address associated with distribution activity. ForwarderV4 appears to function as a routing address that can distribute assets to exchanges, custodians, or over-the-counter desks. When whales move tokens this way, traders typically read it as a sign of preparation to sell.
This latest transfer is not an isolated event. Over the past month, the wallet has sent roughly 3.8 trillion tokens to addresses linked to distribution activity, bringing estimated liquidations to over $20 million for the period. Before this wave, the last time the wallet sold was six months ago.
Despite the recent activity, the scale of what remains in the wallet is considerable. Arkham data shows the address still controls 96.2 trillion SHIB, valued at approximately $433 million at current prices. That remaining balance represents a significant source of potential supply, and if the whale continues at the current pace, it could add further downward pressure on the token's price.
The timing adds to the difficulty. The transactions are occurring while SHIB is already struggling to regain momentum, with the token down over 18% this month and trading near multi-year lows around $0.00000453. According to CryptoQuant, total exchange netflow for SHIB remains positive, meaning more tokens are being deposited to trading platforms than withdrawn, with a net 695.4 billion tokens entering exchanges over a recent 24-hour period.
The whale's continued distribution, combined with broader selling pressure across SHIB holders, leaves the token facing a challenging near-term outlook.
Sources:The Crypto Basic: Early Shiba Inu Whale Dumps Fresh 600 Billion SHIBCoin Edition: Massive 600B SHIB Whale Transfer Sparks Fears of Price CorrectionU.Today: SHIB Top Donor Trillionaire Whale Moves 600 Billion Shiba Inu Coins
