Lookonchain , a tool for on-chain analysis, tweeted that a shiba investor (SHIB), who held 10% of the total token supply at launch and had accumulated $30 million in their wallets today, has moved this money to eight different wallets.

Lookonchain reported that a giant whale, with 101.47 trillion SHIB (worth over $756,000,000 at current prices), transferred 4 trillion SHIB or $30,000,000 to eight new addresses today.

The firm said that this wallet is the largest single holder of SHIB Tokens. The firm purchased SHIB tokens worth $14,000 in the first few days after issuance, and sold them for just under $20,000,000 in 2021.

data indicates that the majority of SHIB is below $1 million in various crypto exchanges. A sell order for this value can move token prices up to 2% instantly.

Bubblemaps , a tool for analytics, tweeted that the wallet is likely linked to the project’s developer. The firm pointed to a report from January that stated a group purchased 10% of the shiba supply after its issuance, but have, in general, held onto tokens rather than selling them to uninformed market participants.

SHIB prices have not changed much in the last 24 hours. The tokens have a market cap of $4.4 billion, down 91% since their peak in October 2021.

Oliver Knight is the editor.