The price of Shiba Inu (SHIB) has fallen 11% after a series of transactions from the whale wallet that famously transformed a $three,400 purchase terminal Baronial into $1.55 billion.

On Tuesday, the whale made four transactions of exactly 10,000,000,100,000 SHIB each to four dissimilar wallets. Each transaction was worth approximately $586 million, totaling about $2.3 billion.

After the wallet was kickoff identified, social media users speculated that the owner may have forgotten or lost their fundamental, given the lack of activeness in the wallet since last twelvemonth.

But with the whale waking up, the transactions take prompted some fear in the community that the holder is preparing to sell his tokens. The whale owns such a large per centum of the supply that any liquidation could potentially prompt a massive price plunge.

"If he decided to sell these bags, SHIB would collapse -99.99% to zero," tweeted financial analyst Jacob Oracle.

The movements sparked downward pressure on the cost, which has fallen 31.two% from its all-fourth dimension high 7 days ago and 10.viii% in the concluding 24 hours, according to data from CoinGecko.

Related: Someone bought $3,400 worth of SHIB concluding August. It'southward now worth $1.55 billion

The ownership of Shiba Inu is concentrated, with the elevation 10 wallets belongings most 72% of the coins in circulation according to CoinMarketCap.

The whale'south original wallet still currently holds over $1.8 1000000 worth of SHIB.