The Bitcoin industry typically has a few surprises in store, and this one is very large. Shiba Inu (SHIB) and Dogecoin (DOGE)’s fifth-largest holders have been the subject of some curious behaviour, with it seems that the same entity is behind both wallets.
The entity in issue now controls 20 trillion SHIB worth $176 million and 3.4 billion DOGE worth $248 million. It is assumed that this firm is Jump Trading or one of its partners. It’s interesting to note that these enormous assets were acquired through a series of nearly simultaneous transactions.
The “0x40B3” wallet received four distinct transfers totaling 20 trillion SHIB from the “0x73AF” SHIB whale, who goes by the handle “0x73AF,” moving the latter to the fifth-largest SHIB holder. 3.4 billion DOGE were transferred in four transactions to the “DEgD” wallet concurrently by the DOGE whale known as “DDuX,” who also carried out a similar operation. The outcome? “DEgD” is now the fifth-largest DOGE holder.
Further investigation revealed that “0x73AF” also got 310K Ethereum (ETH), worth a staggering $563 million, from addresses that are thought to be internal to Jump Trading, particularly “0x0716” and “0xeA3e.” This supports the hypothesis that Jump Trading or one of its partners are behind these transactions.
It’s crucial to remember that SHIB and DOGE have both lately seen a decline in their market performance amid this whale activity. Both cryptocurrencies have had a value decline of roughly 20%, which is consistent with the general crypto market. Despite this, this entity’s high-stakes activity points to a confident and well-thought-out approach to crypto investing.
