A dormant Ethereum wallet reawakened to make a massive purchase of 472.3 billion SHIB tokens, valued at approximately $4 million. The Arkham platform reported that the transaction originated from the Coinhako exchange, instantly turning this address into one of the current major Shiba Inu whales.
The transaction, which included a parallel deposit of 2,122 ETH, marks a drastic shift in the account’s behavior, which previously only managed small amounts of altcoins. Concentrating 32% of its portfolio in SHIB demonstrates strong conviction, fueling expectations for a rally within the memecoin sector.
The key point to watch in the coming days will be the resistance level at $0.00001102; a breakout above this could confirm bullish momentum. However, the activity of Shiba Inu whales is occurring in a context of reduced capital inflows, meaning Bitcoin’s stability will be decisive in validating this technical advance.
Source:https://intel.arkm.com/explorer/address/0xde6d10879107D60f2D807C634F708D1B75Cceee8
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