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1.3 Trillion SHIB Moved in 858 and 420 Billion Lumps, Here's What's Happening

Fri, 10/28/2022 - 11:34
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Yuri Molchan
Astonishing amount of Shiba Inu was transferred in merely two transactions, while price showed large fluctuations
1.3 Trillion SHIB Moved in 858 and 420 Billion Lumps, Here's What's Happening
Cover image via stock.adobe.com

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Twitter user @shibaplay_shared that over the past 14 hours, over a trillion SHIB have been moved in two staggering lumps of 858 billion and 420 billion meme coins.

In the meantime, the SHIB price has been demonstrating a fall that followed a massive price spike.

1.3 trillion SHIB transferred

Anonymous whales shifted the aforementioned gigantic amount of SHIB in chunks of 858,499,454,562 and 419,188,086,016 Shiba Inu.

Details provided by Etherscan show that the 858.5 billion transfer was made by Binance exchange internally. The 420 billion piece of SHIB was moved from an xSHIB Token address to an anonymous wallet.

SHIB holdings of ETH whales drop below $100 million

As per data announced by WhaleStats wallet tracking service, the top 100 whales on Ethereum have gotten rid of a large amount of SHIB they held a day ago.

Now, their overall SHIB stash has plunged below the $100 million level in USD equivalent. After selling $33 million worth of SHIB, the largest 100 investors on ETH own $89,781,650 in this meme coin.

Related
Shiba Inu: Mysterious Whales Move Trillions of SHIB as Transactions Jump 154%

SHIB is 5% up after massive drop

Earlier today, the second largest meme coin reversed and began rising, adding 5.12%. This happened after a tremendous fall of the price by 11.45%.

SHIBsoarsTV_098u3ewret
Image via TradingView

In the past two days, SHIB has been moving in tandem with another popular meme coin β€” DOGE. Shiba Inu followed DOGE up as news of Elon Musk finalizing his deal on purchasing Twitter leaked out to the media.

Both coins fell sharply together yesterday and are rising again as the acquisition is complete.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. β€˜Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.