I saw that Shiba Inu has been taking a beating in the market these days, dropping more than 3% in the last 24 hours. But I found something interesting by looking at Arkham's data — an Ethereum whale with over $11 million in ETH accumulated no less than 120 billion Shiba tokens in just a few days.

The movement happened between March 23 and 26, with four consecutive transfers. First, it made a test transaction with about 16 million Shib, then ramped up heavily by adding 49 billion, repeated the dose the next day, and closed with another 20 billion. In total, 120 billion Shib leaving an unknown wallet that still holds more than 18 billion.

The most curious thing is that the funds came from a BitGo multisig address, which suggests it could be an internal fund redistribution. And look, the whale hasn't moved anything since receiving — the 120 billion remains untouched. This usually indicates that the investor wants to hold, not sell at the first opportunity.

For now, Shib continues to be pressured along with the rest of the market, trading around $0.000005972. There were even liquidations of over $70,000 when the price dropped below $0.000006. But this whale's movement could be a sign that someone believes things will improve here.