- A whale moved about $2.8 million worth of SHIB tokens to an address called ForwarderV4.
- Back in August 2020, the whale reportedly acquired around 103 trillion SHIB.
- About 3.8 trillion SHIB has flowed through the same ForwarderV4 address in the last month.
A huge Shiba Inu (SHIB) whale just moved nearly 600 billion SHIB tokens, about $2.8 million worth, to an address called ForwarderV4, according to Arkham Intelligence.
The wallet belongs to one of the earliest and most successful SHIB investors. Back in August 2020, they reportedly acquired around 103 trillion SHIB, representing 17.4% of the token’s total supply at the time, for only 37.8 ETH (roughly $13,700 at the time).
At the peak of the 2021 meme coin boom, that position was valued at approximately $9.1 billion, making it one of the most successful crypto investments ever recorded.
As for the address itself, ForwarderV4 appears to function as a routing address that can distribute assets to exchanges, custodians, over‑the‑counter desks, or other destinations.
Generally speaking, when whales move tokens this way, traders usually see it as a sign they’re getting ready to sell. While a transfer alone doesn’t guarantee a sale, markets often react negatively because it increases the possibility that a large supply may soon reach exchanges.
This matters even more for SHIB, since meme coins live and die by sentiment and tend to overreact to whale moves.
Not an Isolated Event
Interestingly, the latest 600 billion SHIB transfer isn’t the only one in recent times. About 3.8 trillion SHIB has flowed through the same ForwarderV4 address in the last month, and the whale has reportedly cashed out over $20 million in SHIB over the past 30 days.
Even after all that selling, the wallet still holds about 96.27 trillion SHIB, approximately $457 million at today’s prices. This means the whale still holds enough to influence market sentiment if additional selling takes place.
The timing of this transfer is notable, considering SHIB has already been struggling lately. According to CoinMarketCap, its price has been in a downtrend, dropping more than 10% in the last 7 days and more than 20% in the past 30 days.
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