A Shiba Inu mega whale has moved another 600 billion SHIB tokens worth roughly $3.09 million, extending a long-running reduction of a position that once accounted for about 17.4% of the meme coin’s total supply. On-chain analyst Ember reported that the address originally acquired 1.03 quadrillion SHIB in 2020 for 37.8 ETH, approximately $13,700 at the time. At SHIB’s 2021 peak, that stash was worth as much as $9.1 billion.
The whale has now sold a cumulative 10.06 trillion SHIB for about $66.6 million at an average price near $0.0000066 per token, according to Ember. Despite the selling, the wallet still holds roughly 93.27 trillion SHIB, currently valued at around $478 million—more than 1.5% of circulating supply. SHIB traded near $0.000005093, down 1.47%, with spot volume around $17.9 million versus $45.7 million in futures volume and open interest around $51.75 million. CoinGlass data showed net futures outflows of $213,490 over one hour and $476,760 over eight hours, while spot flows were also negative. Liquidation data showed about $63,620 in SHIB positions wiped out over 24 hours, with longs taking roughly $49,250 of the hit.
The transfer itself should not automatically be read as an immediate market sale, since blockchain moves can represent wallet management. However, the remaining position remains large enough to create significant overhang concerns.
On the burn side, only 3.59 million SHIB were burned in the 24 hours, a 49.90% drop in the daily burn rate and worth about $18. Over the past week, 51.02 million SHIB were burned, up 119%, and 417.02 million SHIB were burned in the last 30 days. In total, Shibburn data shows 410,844,031,939,232 SHIB have been burned from the initial 1 quadrillion supply across 21,714 transactions.
The slowdown coincided with a broad crypto selloff that liquidated $366 million in total market positions, including $295 million in longs and $71 million in shorts. Fed Chair Kevin Warsh’s hawkish Jackson Hole speech highlighted elevated inflation and contributed to a global bond sell-off, with CME FedWatch odds of a rate hike at the September Fed meeting rising to 66% from about 40%. Traders are also watching the historical “Rektember” trend, as September has been Bitcoin’s worst-performing month on average and SHIB has posted losses in three of the last four Septembers, with technical support and resistance now seen at $0.00000488 and $0.00000537.
