Interesting developments just will not leave Shiba Inu (SHIB) alone as, recently, an anonymous new buyer emerged and literally caused ripples in the background of the popular meme-inspired cryptocurrency.

In a series of transfers ranging from $15 to $5.28 million, the unknown large entity managed to absorb about 460.962 billion SHIB, worth about $6.07 million in current prices.

As a result, the anonymous large buyer has become the largest SHIB buyer in the last 24 hours. In addition, the address "0x7834," which absorbed this impressive amount of Shiba Inu tokens became the top address for SHIB inflows over the course of the week. Who is behind this address remains unknown.

Ties to Japan?

However, they have connections with two other unknown addresses, "0x826c" and "0x0C68," with which our whale has a history of transactions worth $5.83 million and $216,470, respectively.

In addition, the whale has a history with Coincheck, a top Japanese cryptocurrency exchange. This indicates that the big buyer's roots are in Asia, and maybe even Japan.

What will happen next with this wallet remains an open question. One thing is for sure, we are seeing unusual activity on this site, and whatever the outcome is, it may have an impact on the price of the Shiba Inu token.

Financial analyst, trader and crypto enthusiast.

Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management.

He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.