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4.1 Trillion SHIB Moved as Price Surges 7.24% Among Falling Market

Sat, 07/15/2023 - 20:00
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Yuri Molchan
Trillions of SHIB shoveled, according to recent report
4.1 Trillion SHIB Moved as Price Surges 7.24% Among Falling Market
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According to data shared by popular crypto tracking service Whale Alert, over the span of the last 24 hours, an anonymous whale transferred several trillion Shiba Inu meme coins.

He has done that while the price of SHIB has been surging when the rest of the cryptocurrency market is sinking in red.

4.1 trillion SHIB on move

Whale Alert reported that an astounding 4,113,777,233,445 Shiba Inu coins were moved from one anonymous wallet to another roughly 22 hours ago.

This was likely a redistribution of SHIB holdings by a whale or a crypto exchange moved part of its Shiba Inu stash to a new wallet. Both things are done regularly in the crypto space.

Earlier, U.Today noticed that nearly 5 billion Shiba Inu meme tokens were withdrawn from crypto exchanges in large chunks. Slightly more than 1 billion SHIB was deposited to the KuCoin exchange.

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SHIB bullish price action

Within the span of the past 24 hours, the second most popular meme cryptocurrency Shiba Inu has made a surge by 8.65%, jumping from $0.00000773 to the $0.00000840 level, where it is changing hands at the moment.

The rise occurred after the partial victory of Ripple over the SEC in court made the price of XRP skyrocket to a peak of 100%. The Ripple-affiliated crypto's rally fueled the prices of the whole crypto market, Bitcoin and Ethereum first of all. SHIB was among the altcoins that also went up significantly.

By now, XRP has lost over 16%, along with XLM, ADA and other top altcoins as traders have begun to liquidate their crypto positions to lock in profits. Unlike other digital currencies, Shiba Inu remains on the rise in the green zone.

SHIB Leader Kusama Marks Coming 'Worldpaper' Launch With Celebratory Tweet

Here's what is still holding SHIB up

Another trigger for the SHIB price to remain in the green is that the other day the leader of the SHIB developer team, the pseudonymous Shytoshi Kusama, presented a rebranded website for Shiba Inu and its ecosystem.

The site now features all major SHIB-branded projects, including the SHIB Metaverse and the ShibaSwap DEX. It contains links to the websites of the official SHIB partners, such as the Italian fast food chain Welly's and the Bad Idea AI token.

Also, the upcoming publication of the first chapter of the "Worldpaper" (a wide version of the "white paper") has been announced on the website.

The Shiba Inu community is celebrating the launch of the new website. Kusama also demonstrated his positive attitude to the upcoming launch of the "Worldpaper" in a recent tweet, as reported by U.Today.

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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. ‘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