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Half Trillion SHIB Disappear in Mystery Amid Shiba Inu Price Obscurity

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Mon, 29/01/2024 - 11:37
Half Trillion SHIB Disappear in Mystery Amid Shiba Inu Price Obscurity
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In a surprising turn of events, nearly half a billion Shiba Inu tokens have embarked on mysterious journeys in the last 24 hours. 

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According to blockchain explorer Etherscan, an unidentified Shiba Inu holder, operating under the address "0xEb4," initiated the enigmatic transactions by transferring a staggering 307.88 billion SHIB — equivalent to an impressive $2.8 million — to Coinbase.

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Further delving into the transaction history reveals that this address had acquired Shiba Inu tokens over a month ago, withdrawing them from the same exchange. The plot thickens, with another colossal transfer involving a new unknown address, "0x3db." This time, 182,24 billion Shiba Inu tokens, valued at $1.66 million, were withdrawn from Coinbase overnight.

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Source: Etherscan

Notably, this address had previously executed SHIB withdrawals from the U.S. exchange, with its first transfers occurring just six days ago, involving over 30 billion Shiba Inu tokens, equivalent to over a quarter of a million dollars.

Shiba Inu (SHIB) price action

As these unknown Shiba Inu holders engage in what may be described as token-related maneuvers, the broader market remains captivated by the cryptocurrency's price movements. 

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SHIB to USD by CoinMarketCap

Following a resilient 6% recovery from the Jan. 23 drop, the SHIB price has once again stabilized at $0.000009. Analysts interpret the current price chart as a phase of accumulation, marked by exceptionally low volatility. 

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Despite lingering doubts, the prevailing sentiment among traders and enthusiasts seems relatively muted, with the peculiar token transfers adding an air of mystery to the Shiba Inu narrative.

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