Shiba Inu Whale Moves Over 200,000,000,000 SHIB To CEX As Price Drops 20%: Is the Meme Coin Season Over?

Shiba Inu (SHIB), the popular meme-inspired cryptocurrency, has been grappling with bearish pressure over the past week, resulting in a decline below previously conquered price levels.

Despite the challenging market conditions, whale activity within the Shiba Inu ecosystem has remained robust, with significant token movements capturing the attention of the crypto community.

Early Whale Buyer Deposits 200B SHIB, Realizes $129M Profit

According to a tweet by on-chain analytics platform Spot On Chain, an early Shiba Inu buyer, identified as wallet address 0xd6b, has deposited 200 billion SHIB tokens, worth approximately $6.49 million, to cryptocurrency exchanges Gemini and This move comes as the whale realizes an estimated profit of $129 million, representing a 445% return on their initial investment.

Remarkably, the whale had purchased 15.2 trillion SHIB tokens four years ago for just 10 ETH. Despite the recent deposit, the whale still holds an impressive 2.6 trillion SHIB, valued at around $85.15 million, in their wallet.

Shiba Inu Price Battles Bearish Forces

Over the past week, Shiba Inu has been struggling against bearish market forces, leading to a decline in its price. In the last 24 hours alone, SHIB has experienced a further 7% decline, contributing to almost 20% price drop over the past seven days.

The recent price action has raised concerns among Shiba Inu investors, as the token has fallen below previously established support levels. However, despite the bearish trend, some market participants remain optimistic about Shiba Inu’s long-term prospects, citing the token’s strong community support and ongoing development efforts.

Cumberland Moves 332 Billion SHIB to Robinhood

Amid the bearish price action, Cumberland, a prominent cryptocurrency trading firm, has been actively moving significant amounts of Shiba Inu tokens. In one of its latest transactions, Cumberland transferred 332,427,690,902 SHIB, worth $10,858,584 at the time of the disclosure, to Robinhood.

The massive token movement has sparked speculation within the crypto community, with some wondering about the implications for Shiba Inu’s price.

While some users speculated that Cumberland sent the tokens to a private wallet, data from blockchain explorer Etherscan revealed that the recipient wallet is associated with the popular U.S. exchange Robinhood. This discovery has led to further discussions about the potential impact of the transfer on Shiba Inu’s liquidity and trading activity.

Explosion in Meme Coin Market; How to find potential successors to $WIF, $PEPE, and $BONK?🤫

The key? Getting in early, especially during the ICO phase. Check out NuggetRush today! This new memecoin combines play-to-earn gaming with authentic gold mining ventures. Seize the opportunity with ongoing presale prices! Plus, prepare for $NUGX’s upcoming launch on major exchanges.

Show more +

Cumberland’s History of Significant SHIB Transfers

The recent 332 billion SHIB transfer is not an isolated incident for Cumberland. On March 4, the trading firm moved an even more substantial 1.25 trillion SHIB to an unknown address, coinciding with Shiba Inu’s explosive rally that saw the token surge over 350% within a single week.

Despite the recent bearish pressure, Cumberland’s wallet still holds a considerable amount of Shiba Inu, with more than 54.93 billion SHIB valued at over $1.77 million at press time.

As Shiba Inu navigates the turbulent waters of the cryptocurrency market, the activities of major whales and trading firms continue to draw attention. While the recent bearish trend has raised concerns, the ongoing development efforts and strong community support surrounding Shiba Inu provide a glimmer of hope for the token’s future prospects.

As the crypto space evolves, market participants will closely monitor the movements of influential players like Cumberland and early whale buyers, as their actions can potentially impact the trajectory of Shiba Inu and other prominent cryptocurrencies.

Check NuggetRush ($NUGX)

Sponsored: Invest Responsibly, Do Your Own Research.
Being in its ICO stage, NuggetRush offers a prime opportunity for early investors to get in at potentially lower prices
A unique play-to-earn gaming platform in the memecoin market
The platform combines artisanal and gold mining with cryptocurrencies in an unusual gaming context, offering a distinctive and immersive experience
Fosters a strong community by encouraging physical meetups among members
NFT Integration with Prominent Characters
intelligent crypto
How are  regular people making returns of as much as 70% in a year with no risk?  By properly setting up a FREE Pionex grid bot - click the button to learn more.
Crypto arbitrage still works like a charm, if you do it right! Check out Alphador, leading crypto arbitrage bot to learn the best way of doing it.


Vignesh Karunanidhi
Vignesh Karunanidhi

Seasoned crypto writer with deep passion for blockchain and cryptocurrency