I watched the movements of the 6 trillion Shiba Inu whales

Shiba Inu whales pumped the SHIB price by 42% in just three days this August 2022.

The news took the crypto space by storm – but also sparked debates about the role of Shiba Inu whales in pumping the SHIB price and later profiting.

If the headlines are to be believed, any hype is good for Shiba Inu investors.

But how altruistic are Shiba Inu whales?

Especially in an era where Terra Luna lost around $40 billion, and new cryptocurrencies like EverGrow have built in anti-whaling systems specifically to avoid pump-and-dump schemes?

To get a better answer, I wanted to track the movements of the Shiba Inu whale that bought 6.178 trillion SHIB on September 30 last year. This Shiba Inu whale bought a total of 6.5 trillion SHIB over a two-day period worth $100 million – within a month, the price of Shiba Inu pumped 1,010%.

Ask most Shiba Inu investors about whales and they will probably say the same thing: whales are great at pumping up the price.

But the reverse is also true: whales are fantastic at sending SHIB prices into freefall.

Nothing is certain in tracking cryptocurrency transactions. This is because many whales spread purchases between different wallets, making it impossible to know who is the custodian.

But what is clear is that after a series of 19 transactions the 6 trillion SHIB bought on September 9th was gone by December 10th. What is also clear is that the Shiba Inu whale has made millions along the way.

There is a clear pattern throughout the 19 transactions. Almost every day, the whale sent trillions of SHIB to a new wallet before selling a portion, buying more Shiba Inu with the profit, and then sending an even larger supply to a new wallet.

At its peak, this Shiba Inu whale actually possessed 12.07 trillion SHIB.

At the time (November 19) it would have been worth $591 million. It is impossible to know for sure, but everything indicates that the most famous Shiba Inu whale was constantly buying and selling Shiba Inu to increase their own stock.

It’s likely that the whale took a profit along the way – but even if they didn’t, by December 10 they sold their Shiba Inu for a total of $135 million.

In other words, they made at least $35 million in 10 weeks.

At best, they could have grown their $100 million to $1.11 billion.

Data from the Santiment crypto-analysis firm suggests that just eight Shiba Inu whales were almost entirely responsible for the SHIB pump last October.

A graph they put out showed an exact correlation between Shiba Inu price pumps and groups of transactions over $100k. Not surprisingly, the reverse was also true. When the 6 trillion Shiba Inu whale sold their remaining 9 trillion SHIB in December (no doubt one of those top eight SHIB whales) the price immediately dropped -15%.

Data from IntoTheBlock also indicates a correlation between average transaction size and crashes in the Shiba Inu price.

On November 2 just as Shiba Inu held above $0.00007 for four days, the average deal size rose to $89,000 (it was previously around $10k – $20k). Furthermore, IntoTheBlock data indicates that 41 trillion SHIB flowed out of major holder wallets on November 2, worth $2.8 billion.

By November 4, the price of Shiba Inu had collapsed to $0.000049.

Unfortunately, they bought for about 153,000 Shiba Inu wallets that are still lurking today (about 13% of total wallets) during a window of about a month when the Shiba Inu price was above $0.00004.

According to price analysis, much of their investment would have gone straight into Shiba Inu whales’ pockets.

Crypto whales are a fact of life in crypto.

Although hodling may be a philosophy for hundreds of thousands of investors, if you follow the movements of the 6 trillion Shiba Inu whales, you will see that he/she has not hod for more than 24 hours. Unfortunately for anyone who has been housing Shiba Inu since last November, the moves of big whales mean their portfolios are currently in the red.

So is there a way to trade Shiba Inu without the influence of whales?

Until the Shiba Inu Eternity game and other projects roll out, the answer is no.

But with the collapse of DeFi, many investors are looking for new projects that have a different spin on the whaling games of crypto. One of the solutions is EverGrow.

Even if you’re not ready to invest today, it’s worth reading up on EverGrow to arm yourself with knowledge of how to make a wise investment in the future. Let’s see.

The EverGrow white paper explains the ‘anti-whaling system’ in which any sale is blocked if it involves more than 0.125% of the circulating stock.

This kind of code would have stopped many of the 6 trillion Shiba Inu whale sales last year.

But more than that, the entire EverGrow model is designed to avoid whale price pumps and dumps in general. EverGrow charges a 14% transaction tax on any buy, sell or trade, which immediately discourages anyone from moving tokens around the market to make a profit.

So what is the benefit of a token like EverGrow?

The 14% transaction is split, so a cut of 8% goes to instant rewards in the BUSD stablecoin. The mechanism allows small to large investors to make stablecoin passive income on their investment. If a wallet chooses to sell a large portion, 8% of it will be distributed among all holders.

If that wallet then chooses to buy back at a lower price, the community earns 8% from the movements.

But it’s probably more in the whale’s interest to continue to hold their EverGrow and earn from BUSD rewards like everyone else. This kind of approach to crypto is new – and it’s likely that such an approach will win over new investors as retail investors become wiser about whale games like with Shiba Inu.

We may never know exactly how much the 6 trillion Shiba Inu whales made over the course of 10 weeks last year.

But even just an idea of ​​the movements should make better investors of us all.