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.

A cryptocurrency whale has recently made waves in the market by depositing a large sum of SHIB (Shiba Inu) and AVAX (Avalanche) tokens into Binance.

According to blockchain tracking service EyeOnChain, the whale deposited 200 billion SHIB, valued at $3.17 million, and 100,000 AVAX, valued at $2.51 million, into the exchange approximately 19 hours ago. This marks the first SHIB activity from the whale in about a month, which has got traders speculating about what the whale might be up to next.

Could this whale be in need of some serious cash and about to trigger a sell-off in two of the market’s most popular tokens or is this whale simply repositioning a couple of assets in a bear market? Let’s unpack this whale activity and see what we can learn.

The whale’s portfolio and recent activity

The activity of large holders, or “whales,” in the cryptocurrency market can have a significant influence on the market, especially in the case of volatile cryptocurrencies like SHIB and AVAX. The whale’s recent deposit of 200 billion SHIB and 100,000 AVAX tokens into Binance is a clear indication of the whale's large holdings and potential to sway the market.

The whale is known to have acquired SHIB at an average price of $0.00001261 and has sold a large portion of its holdings at an average price of $0.00001948, netting a total profit of $4.13 million. This suggests that the whale has been closely following market conditions and may be preparing for an exit plan or some other significant move in the near future.

The whale’s holdings and strategy

The whale’s accumulation of SHIB 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 a total of $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 left wondering 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.

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