Over the past 16 hours, a whopping two trillion of SHIB exchanged hands among anonymous wallets, and half of this amount was sold on a major U.S. exchange.
On Nov. 28, the price of Shiba Inu suddenly dropped by slightly over 6%. However, by now, the meme coin has almost completely regained this loss.
2 trillion+ SHIB on move
Twitter user @shibaplay_, who follows major transfers of SHIB on Etherscan and shares them with his followers, has spread the word about the equivalent of nearly $20 million in Shiba Inu transferred 16 hours ago. That was two chunks of the second largest meme token, carrying 1,060,594,914,048 SHIB each.
One of these lumps was sent to the U.S. public trading crypto exchange Coinbase, most likely to be sold. The other lump was moved from one anonymous token to another. The receiving address now contains 18,113,302,000,496 Shiba Inu worth $167,366,910.
Another lump of this meme coin, much smaller, was also transferred between two anonymous whales, in the amount of 101,686,305,164 SHIB.
Altcoin hype peaks, Santiment says
According to a recent tweet by popular data aggregator Santiment, at the moment, the hype around various altcoins, including those based on dog memes, has reached a peak. This is manifest in the sudden recent surge in the price of Dogecoin.
📊 Markets have mostly been favoring #altcoins over the past week, with many returning double digit positive return percentages. This has been enough to get traders excited for a #crypto turnaround. Euphoric sentiment has surged to a 3-month high. https://t.co/WnlthQsuwH pic.twitter.com/yizk9AOzcK— Santiment (@santimentfeed) November 28, 2022
As covered by U.Today, the original meme token soared by roughly 15% over the weekend as Elon Musk promised that, should popular online stores for iOS and Android apps start pushing the Twitter app out of their assortment, he would launch an alternative "Tesla Phone" with a new OS.
On Monday, this standoff between Elon Musk and Apple continued, as Musk tweeted that Apple's App Store has threatened to withhold Twitter without providing any reason for it.
Apple has also threatened to withhold Twitter from its App Store, but won’t tell us why— Elon Musk (@elonmusk) November 28, 2022
This pushed Dogecoin's price up 10% with hours. Shiba Inu has risen a little over 4% following DOGE.