An Ethereum whale has accumulated over 120 billion Shiba Inu (SHIB) tokens in four transactions between March 23 and March 26, 2026, according to Arkham Intelligence. The whale, holding more than $11 million in Ethereum, conducted a test transfer of 16.52 million SHIB before acquiring 49.72 billion SHIB in two subsequent transactions and completing the sequence with an additional 20.55 billion SHIB. The total acquisition is valued at approximately $720,000 at the current SHIB price of $0.000006. The SHIB tokens were transferred from an unidentified wallet, which had previously received them from a multisig wallet linked to BitGo. The receiving wallet continues to hold the 120 billion SHIB tokens, suggesting a potential internal fund redistribution. This activity comes as SHIB faces market pressure, recently dipping below $0.000006 and causing liquidations of about $70,830, primarily affecting long traders.
Ethereum Whale Acquires 120 Billion SHIB Amid Market Pressure
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