In a recent turn of events that has set the cryptocurrency market abuzz, a prominent whale has transferred a colossal amount of $3.17 million worth of SHIB (Shiba Inu) and $2.51 million worth of AVAX (Avalanche) to Binance. The approximately 19-hour-old transaction has traders and analysts speculative about what the whale might be doing next. Is this whale in need of serious cash and about to trigger a sell-off in two of the market’s most popular tokens, or is this whale merely repositioning a couple of assets in a bear market? Whale’s Portfolio and Recent Activity The activity of the whale is a clear indication of the potential influence that large holders, or “whales,” can have on the market. This is especially true for the case of volatile cryptocurrencies like SHIB and AVAX. By depositing 200 billion SHIB tokens, valued at $3.17 million, and 100,000 AVAX tokens, valued at $2.51 million, the whale is once again making its presence felt. The deposits come after a brief hiatus from SHIB activity. With these two moves, the whale has stirred up the SHIB and AVAX markets. Traders are eagerly awaiting the next move. At present, the whale possesses an impressive 592.251 billion SHIB tokens, which have an estimated worth of $9.27 million. This places the whale in a position of extremely substantial profit—just from SHIB, the whale has netted a total of $4.13 million, for a percentage gain of 35.4%. These eye-popping figures strongly suggest that the whale has been closely following market conditions and is potentially gearing up for an exit plan or some other significant move in the very near future. Breakdown of the Whale’s SHIB and AVAX Holdings The accumulation of SHIB by the whale over the last several months depicts a picture of a methodical investor. From August 2023 to January 2025, the whale amassed a total of 923.762 billion SHIB at an average price of $0.00001261 per token. This long-term strategy of accumulation has allowed the whale to build a sizable position in SHIB, making it one of the largest holders of the token in the market. Beginning January 2024, the whale has divested a large portion of its SHIB holdings, parting with 334.101 billion SHIB at an average price of $0.00001948 per token. This selling spree brought in $6.51 million. The whale’s sale strategy has been relatively successful and certainly profitable. But what remains in the whale’s wallet—592.251 billion SHIB—hasn’t gone anywhere, and market observers are now asking if this hold is a prelude to the SHIB being used in some way or if the whale is just going to dump the rest of its holdings. Besides its SHIB holdings, the whale has also amassed a sizable position in AVAX. The whale currently holds 95.472K AVAX tokens, valued at approximately $2.37 million. AVAX, the native token of the Avalanche blockchain, has attracted substantial interest from institutional investors and traders because of its fast, scalable network and burgeoning ecosystem of decentralized applications (dApps). While the whale’s apparent focus right now is on SHIB, it seems to have retained its AVAX position as a key asset in its portfolio. Whale Shakes Up the Market with $3.17M in SHIB and $2.51M in AVAX Deposits depositing 200B $SHIB ($3.17M) & 100K $AVAX ($2.51M) to Binance about 19 hours ago. This marks the whale's first SHIB activity in a month, which has traders wondering if they’re gearing up for a sell-off. pic.twitter.com/BumBVyhB2t — EyeOnChain (@EyeOnChain) February 18, 2025 Is the Whale Gearing Up for a Sell-Off? The recent activity and large holdings of the whale have led to much speculation about its intentions. The deposit of 200 billion SHIB and 100,000 AVAX tokens to Binance has prompted many traders to suspect that a large-scale sell-off might be on the way. Should such a sell-off occur, it could have a considerable impact on prices, given that both SHIB and AVAX are known for their volatility. And anyway, why did the whale send those tokens to Binance? Some experts think that the whale might be getting ready to sell some of its SHIB holdings—especially in light of the recent transfers to Binance. The whale’s having not interacted with its SHIB holdings for over a month makes us wonder why it suddenly started up again and think maybe it’s diversifying or pulling back. The profits it “realized” back in 2021 when it sold a huge chunk of SHIB certainly cushion any downside in case it turns out this was an ill-timed market call. Nevertheless, some think the whale might just be getting ready to diversify its holdings or reposition assets for growth. Let’s face it; effective accumulation often requires timing, and there might be a reason to suspect the whale could be using both SHIB and AVAX as low-risk placeholders while it waits for better market conditions to cash in on a price rally. The Impact on the Market Yet another significant sell-off around such holders could serve as a wake-up call for the broader market. With Sell-Off 3.0 potentially worsening investor sentiment, prices could be driven down not only for SHIB but for AVAX as well. On the other hand, if our whale in question happens to be holding on and off, and thereby signaling some sort of confidence in the life force of these tokens, well, this could equally nudge other investors into following up with some buy orders. At the end of the day, the next step the whale takes could send ripples through the market, which traders will be watching closely to see if it decides to book profits or just let them ride. In the cryptocurrency space, a decidedly illiquid and wildly volatile environment, the whale’s actions and nonaction will thunder or whisper, as the case may turn out, about the likely goings-on in the SHIB, AVAX, and broader crypto market tomorrow, next week, and next month. At the moment, the whale has everyone’s attention as it charts a course through the cryptocurrency trading realm, which is in a constant state of flux. Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services. Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news ! Image Source: studiograndouest/ 123RF // Image Effects by Colorcinch
