Main navigation

8.7 Trillion SHIB Moved by Anon Whales as Price Plunged From $0.00001 Peak

Mon, 08/07/2023 - 09:50
article image
Yuri Molchan
Trillions of SHIB transferred to brand new cryptocurrency wallets on Sunday and just now
8.7 Trillion SHIB Moved by Anon Whales as Price Plunged From $0.00001 Peak
Cover image via

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Read U.TODAY on
Google News

According to a recent tweet by popular crypto tracker Whale Alert, over the past 24 hours, a giant sum of SHIB – several trillion meme coins – was transferred from one anonymous wallet to another.

The aforementioned blockchain tracker did not mark either of these wallet addresses as belonging to a centralized crypto exchange.

Another transaction of similar size followed roughly an hour ago.

In the meantime, the SHIB price plunged approximately 10% today, after burning a zero for a short time ovet the weekend.

Trillions of SHIB on the move

Whale Alert reported that more than 16 hours ago, a total of 4,412,252,578,938 Shiba Inu, the equivalent of $40,672,144 at the time when the transfer was made.

Less than an hour ago, 4,382,252,578,938 SHIB tokens were transferred worth $40,064,744.

The first transaction was made between two newly created wallets. For the receiving wallet it was the very first transaction. As for the second transfer, judging by the details provided by Whale Alert, the same wallet moved slightly less SHIB over to another cryptocurrency address.

The source, the purpose and the owners of the wallets engaged in these two massive SHIB transfers remain unknown.

SHIB Burn Rate Up as Price Jumps 9.2%, Millions of Shiba Inu Sent to Dead Wallets

Shiba Inu fails to hold at new peak

On Saturday, Aug. 5, leading meme coin SHIB demonstrated a price jump by nearly a whopping 20% as it surged to the $0.00001023 level and burned a zero. However, a plummet followed, taking SHIB 10.92% down by now.

At the time of this writing, the second biggest meme cryptocurrency is changing hands at $0.00000911 on the Binance exchange. The latter added SHIB as one of its new collateral assets on Friday.

Likely reasons for SHIB's upsurge 

As reported by U.Today, there could be three major reasons for that. The first one is rising excitement about the likely upcoming launch of the Shibarium Layer 2 blockchain that will connect Shiba Inu and Ethereum. The event is highly likely to take place in approximately one week during the Blockchain Futurist Conference in Toronto, Canada. The pseudonymous leader of SHIB, known as Shytoshi Kusama, is expected to deliver a speech via AI during the conference and talk about Shiba Inu and Shibarium, as well as about its partners and SHIB-branded projects.

SHIB will also be one of the primary sponsors of this conference.

The second and third factors are the great confidence of investors in SHIB and the oversold SHIB market.

article image
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