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4.2 Trillion SHIB Moved as SHIB Price Drops 16.55%

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Mon, 18/12/2023 - 10:10
4.2 Trillion SHIB Moved as SHIB Price Drops 16.55%
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According to a recent Twitter/X post published by popular blockchain sleuth Whale Alert, approximately 16 hours ago, a blockchain address that was tagged as unknown transferred an enormous amount of Shiba Inu meme coins.

This transfer stirred the Shiba Inu community. Besides, this transfer occurred while the SHIB price plunged by roughly 16%, after demonstrating staggering growth of 22.21% on Sunday.

Trillions of SHIB on move, community reacts

The above-mentioned cryptocurrency tracker detected an anonymous wallet sending 4,262,142,892,684 SHIB in total to another unknown blockchain address. This amount of Shiba Inu meme coins was evaluated at $43,896,875 at the time the transaction was made.

A notable thing here is that, according to the Etherscan blockchain tracker, the receiver wallet is no longer available for data analysis. During the fall this year, such massive SHIB transactions were made almost every week, and often the community saw from one to sometimes three transactions carrying 4.2 trillion Shiba Inu. Often, these lumps were sent between anonymous wallets, as this time; sometimes, they were internal transfers by the Bitvavo exchange or withdrawals made by whales from this cryptocurrency trading platform.

Over the past week, this is the third transaction containing 4.2 trillion Shiba Inu noticed by Whale Alert. One happened on Friday, Dec. 9, and two others took place on Sunday, Dec. 17. All were made between anonymous cryptocurrency wallets.

The Shiba Inu community reacted positively under the tweet with the details of the aforementioned transfer, making humorous comments about the size of the transfer and pondering who could make it. Even the recent Ledger wallet hack was mentioned by one of Shiba Inu's fans.

Related

Shiba Inu’s jumping and plunging this weekend

On Saturday, SHIB demonstrated an impressive price surge as it jumped by more than 22% on Sunday and reached the $0.00001172 level after burning a zero last week. However, this was followed by a tremendous rebound as the price plunged by 16.55% and hit $0.00000999 by now.

Over the weekend Shytoshi Kusama made a bullish statement, promising that 25 billion SHIB would be burned soon, and rolled out a rough plan on global SHIB adoption that will help make impactful burns.

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