Whale Alert Detects Massive Transfer of Shiba Inu Meme Coins
Whale Alert, the cryptocurrency tracking platform, recently detected a massive transfer of over 4.4 trillion Shiba Inu meme coins (SHIB) worth $35.8 million between anonymous wallets. This indicates the birth of a new Shiba Inu whale. The transaction occurred amid a weekend of upward movements in SHIB’s price and a surge in large SHIB transactions, reflecting growing investor confidence in the cryptocurrency.
Shiba Inu Whale Transfers Trillions of SHIB in Massive Move
In a stunning turn of events, the cryptocurrency community was abuzz more than 15 hours ago when Whale Alert reported a colossal transfer of Shiba Inu meme coins (SHIB) from one anonymous wallet to another. This transaction, involving an eye-popping 4,439,530,677,374 SHIB, equivalent to a staggering $35,824,792, has raised eyebrows and sent shockwaves through the cryptocurrency space.
The transaction, flagged by the blockchain tracker as “unknown,” took place between wallets with minimal transaction history, pointing to a fresh and unseasoned blockchain address. With this massive influx of trillions of SHIB coins, it is evident that a new Shiba Inu whale has emerged on the scene.
Large-Scale SHIB Transactions Raise Questions
This development comes on the heels of similar large-scale SHIB transactions that occurred last week. Anonymous whales were seen moving substantial chunks of the meme coin, some of which were acquired on Bitvavo and subsequently transferred to self-custody wallets. These movements have added an air of mystery to the Shiba Inu ecosystem, leaving many wondering about the intentions and strategies of these cryptocurrency whales.
The weekend leading up to this mammoth SHIB transfer witnessed a series of upward price movements for the meme coin. SHIB, which started as a playful homage to the Shiba Inu dog breed, has garnered substantial attention in the cryptocurrency world.
SHIB was able to post a 1.96% gain over the past 24 hours of trading, according to the cryptocurrency price tracking website CoinStats. At press time, the meme coin was changing hands at $0.00000826. Notably, this latest increase in price pushed the altcoin’s weekly performance further into the green zone as well, taking it up to +4.26%.
### News source: coinpaper.com