Main navigation

Over Trillion SHIB Moved to Coinbase, Here's What's Happening

Mon, 11/14/2022 - 14:32
article image
Yuri Molchan
Anonymous whale has transferred more than one trillion SHIB to Coinbase and another major crypto exchange
Over Trillion SHIB Moved to Coinbase, Here's What's Happening
Cover image via www.freepik.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Read U.TODAY on
Google News
Contents

Data published by @shibaplay_ Twitter user shows that over the past eight hours, around 1.12 trillion Shiba Inu meme coins were sent to two leading crypto exchanges.

1.12 trillion SHIB on the move as price drops to 2022 lows

Two anonymous wallets have transferred 1,060,594,914,048 and 121,823,678,713 SHIB worth $9,693,837 and $1,123,214. The funds were sent to Coinbase and OKEx to be sold.

As reported by U.Today recently, the second largest meme cryptocurrency Shiba Inu has come close to the lows of 2022, when the price hit $0.00000793 earlier this year.

Over the past week, the SHIB price has dropped by more than 23%. At the moment, the coin is changing hands at $0.000009181. This is 89.44% below the all-time high of 2021, when the coin hit $0.00008845 in late October.

Massive price drops across the cryptocurrency market and movements of coins have been caused recently by the collapse of the FTX crypto trading giant, as its founder Sam Bankman-Fried declared the exchange and its affiliated company Alameda Research's insolvency, submitting the necessary papers to regulators.

Related
SHIB Burn Rate Shoots up 1,064% After These New Milestones

106 billion SHIB added by whales

While bigger whales are dumping their SHIB on the market, others are adding meme coins to their wallets. According to WhaleStats tracker, the largest 100 whales on Ethereum have recently added roughly 106,269,925,611 Shiba Inu worth $1,000,000.

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 yuri.molchan@u.today.