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4.4 Trillion SHIB Shoveled by Anon Whales as Price Begins to Increase

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Mon, 6/11/2023 - 10:20
4.4 Trillion SHIB Shoveled by Anon Whales as Price Begins to Increase
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More than 15 hours ago, Whale Alert crypto tracker, which traces large crypto transfers made by whales and exchanges, detected a massive SHIB amount moved by a crypto wallet.

The transaction was conducted between wallets tagged by the blockchain tracker as "unknown," and it carries several trillion Shiba Inu meme coins.

Over the weekend, the SHIB price demonstrated a series of upward movements.

4.4 trillion SHIB on move, new whale is born

According to the X post published by the aforementioned tracker, one anonymous wallet sent a total of 4,439,530,677,374 SHIB to another wallet. This amount of SHIB meme coins is evaluated at $35,824,792.

Notably, the transaction landed in a brand new wallet (with only two transfers performed around 12 hours ago), so with these trillions of SHIB reaching this fresh blockchain address, a new Shiba Inu whale has been born.

This transfer was likely a sale or a crypto whale splitting their SHIB trillions between several wallets that belong to the same owner.

Several similar chunks of SHIB were moved by anonymous whales last week, according to earlier reports by Whale Alert. Some of those 4.3-trillion-SHIB lumps were bought on Amsterdam-based exchange Bitvavo and then withdrawn to self-custody wallets.

According to data shared by IntoTheBlock on-chain data agency, over the weekend, the number of large Shiba Inu transactions surged by 41.45%, with the volume constituting $45.42 million.

These large transactions were valued at $100,000 or more in SHIB equivalent.

Crypto analyst Ali Martinez has tweeted that right now there is a massive inflow in various cryptocurrencies - nearly $10.97 billion. This is the highest level this year so far, and it indicates high investor confidence in this nascent type of asset.

Related
SHIB Burns Soar Almost 1,400% as Shibarium Hits New Utility Milestone

Shibarium approaches big new milestone

Data shared by the Shibariumscan explorer shows that at the moment, the Layer-2 blockchain solution for Shiba Inu, Shibarium, is closely approaching a big new utility milestone – four million transactions.

At the moment, the overall transaction count stands at 3,821,096 with the number of daily transactions reaching 10,580 after several big jumps in September and October.

On Oct. 25, it went high to the 65,570 level, falling the following day and moving in the 10,580 range since then.

SHIB market performance

As mentioned above, over the weekend, the SHIB price demonstrated a jump of 5.75%, followed by a small drop, then going up by a 2.69% increase on Sunday.

Over the span of the last 24 hours, the second largest dog-themed coin, SHIB, has gone up by a meager 1.27% and is trading at $0.00000815 at press time.

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