3.8 Trillion Shiba Inu (SHIB) Moved in Recent Hour, What's Happening?

Crypto data tracker WhaleAlert has reported a massive move of 3.8 trillion SHIB in recent hours. The large chunk of SHIB, worth over $25.5 million, was shifted between two unknown wallets.

WhaleAlert reported, "3,811,233,843,288 SHIB (25,596,246 USD) transferred from unknown wallet to unknown wallet."

🚨 🚨 3,811,233,843,288 #SHIB (25,596,246 USD) transferred from unknown wallet to unknown wallethttps://t.co/BxyIPoDq9J

— Whale Alert (@whale_alert) June 16, 2023

The SHIB transferred was to an entirely new wallet, which stirs up speculation.

Earlier in the week, a similar Shiba Inu token move was spotted by WhaleAlert. A massive SHIB stash — 3,821,233,843,288 SHIB tokens — was transferred between unknown wallets. Noteworthy is the fact that the 3.8 trillion SHIB was moved to a completely new wallet as well.

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Coins may move in two different directions: first, from wallet to exchange and vice versa; and second, between wallets. The latter could be due to a wallet change or fund reshuffling. Exchanges, which frequently retain vast quantities of coins, occasionally have the ability to shuffle their wallets. Another option is that the coin was transferred with the intention of being sold.

However, whichever one it might be, the exact reason for the move of the 3.8 trillion SHIB stash remains unknown.

At the time of writing, SHIB was up 2.43% in the last 24 hours to $0.0000067.

In positive listing news, SHIB is now available on all PIP products. This allows users to send and receive SHIB on Twitter, Discord, Twitch, Github, Reddit and anywhere with PIP Social Pay. They could issue and get paid with invoices, accept SHIB payments with the pay button or even collect SHIB payments via a personal Web3 profile.