According to the recent X post by Whale Alert blockchain sleuth, almost five hours ago, a massive amount of Shiba Inu meme coins exchanged hands between two anonymous digital wallets.
The fiat equivalent of this transfer stands at an impressive $32,142,200. This week, it has been the fifth lump carrying 3.5 trillion Shiba Inu moved from one anonymous whale to another.
Two similar transfers were made on Friday, October 20. Today’s transaction coincided with a jump of SHIB price by 3.89% as it went up from $0.00000708 to the $0.00000716 price level.
3.5 trillion SHIB transfers were also spotted on October 16 and 17 this week, per Whale Alert. The community in the comments wondered as to the purpose of these staggering crypto transactions.
SHIB whale activity rises drastically
As reported by U.Today earlier, on-chain data provider IntoTheBlock has shared that Shiba Inu whale activity has soared by an astounding 987%. This is related to an increase in the SHIB transaction volume – on Friday alone roughly $70 million worth of Shiba Inu was transferred by high-tier SHIB wallets.
This matches the aforementioned data from Whale Alert that on Friday about 9 trillion SHIB was shoveled by unknown blockchain addresses – worth roughly $61 million, plus several other large transactions.