Shiba Inu Whale Keeps Unloading a Position Once Worth $9B

One of Shiba Inu's earliest and largest holders is still quietly drawing down a position that once made crypto history. The wallet has moved another 600 billion $SHIB, worth roughly $3.09 million, continuing a gradual exit that has been tracked closely by on-chain analysts.

A $13,700 Bet That Became a $9 Billion Position

The backstory is remarkable. According to on-chain analyst Ember, the wallet originally acquired 1.03 quadrillion $SHIB in 2020 for just 37.8 ETH, worth around $13,700 at the time, equal to roughly 17.4% of Shiba Inu's total supply. The holder sat on the position for years without making significant moves. On-chain analyst Ember notes the same position swelled to an on-paper value of $9.1 billion at $SHIB's 2021 peak.

The scale of the original entry is what makes every subsequent transfer notable. Unlike Bitcoin, which is designed to be scarce, $SHIB is intentionally abundant, with a total supply of one quadrillion. Controlling 17.4% of that supply from a single wallet, bought for less than $14,000, remains one of the more striking trades in the history of meme coins.

Steady Exits, but a Mountain of $SHIB Remains

The whale has been gradually reducing that position over the years. Ember estimates it has now sold a cumulative 10.06 trillion $SHIB, worth about $66.6 million at an average price of roughly $0.0000066 per token. Despite those sales, the position remains enormous. The address still holds about 93.27 trillion $SHIB, valued at around $478 million and representing more than 1.5% of the circulating supply.

Analysts caution against reading too much into any single transfer. The latest move is not proof of selling: large on-chain shifts frequently reflect internal wallet rotation rather than distribution, and no exchange deposit tied to the 600 billion tokens has been confirmed. Any future transfer from the address could draw attention because the wallet continues to hold a large share of circulating supply.

$SHIB is trading at about $0.000005093, reflecting a 1.47% dip in the most recent data. Over the past 24 hours, $SHIB's spot trading volume reached $17.9 million, significantly below the $45.7 million in futures volume. Per CryptoQuant, the total exchange netflow remains positive, suggesting that wallets are depositing more $SHIB tokens to trading platforms than they are withdrawing, with a net of 695.4 billion tokens entering exchanges over 24 hours.

Sources:
U.Today: Shiba Inu Mega Whale Offloads Hundreds of Billions of SHIB Tokens
Coinotag: Shiba Inu Whale Wallet Moves 600 Billion Tokens Worth $3.09M
Blockonomi: Shiba Inu Whale Shifts $3M in SHIB as Selling Pressure Builds