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Shiba Inu Mystery: Three Addresses Receive Enormous 4.2 Trillion SHIB

Thu, 08/03/2023 - 08:15
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Arman Shirinyan
Shiba Inu goes through series of unusual transactions
Shiba Inu Mystery: Three Addresses Receive Enormous 4.2 Trillion SHIB
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In the typically volatile world of cryptocurrency, unusual transactions often spark interest and speculation. Recently, the Shiba Inu (SHIB) community experienced such a curiosity when an enormous quantity of SHIB tokens - an astounding 4.2 trillion - was transferred to three different addresses. The source and intention behind these transfers remain a mystery.

Six days ago, the first address, labeled 0xd598Fe5e551DeAFbF52F77413b06049ad7394AE9, received 4.163 trillion SHIB. Intriguingly, this address has retained its colossal holding, a move that has kept the SHIB community on edge. Where the tokens came from and why they have not been moved only adds to the mystery.

Shiba Inu
Source: Etherscan

The second address, 0x4216FD0f6Fc6E67fd949e31e62F52039dEa1801E, also received a similar quantity of SHIB. However, this transfer originated from an address linked to Coinbase, the popular cryptocurrency exchange. The tokens have not remained static in this wallet; they have been sent to various destinations, leaving observers to wonder about the purpose of these transactions.

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Lastly, the third address, 0xf3b021632992127b796E598861ADed094110EE67, known as the oldest holder of more than four trillion SHIB, received its tokens from an address initially connected to Coinbase. Similar to the second address, this wallet did not hold on to its tokens and transferred them to other destinations.

The commonality between these three addresses is their link to Coinbase, either directly or indirectly. This raises a multitude of questions. Could these transactions be part of some internal testing for the exchange or an indicator of future movements for SHIB on the exchange platform? Or perhaps, is this related to some form of liquidity provision or preparation for a significant market event? At this point, these are mere speculations and nothing can be said with certainty.

Meanwhile, Shiba Inu's market performance continues to be stable, showing promising signs after a successful breakthrough of the ascending triangle pattern.

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About the author

Arman Shirinyan is a trader, crypto enthusiast and SMM expert with more than four years of experience.

Arman strongly believes that cryptocurrencies and the blockchain will be of constant use in the future. Currently, he focuses on news, articles with deep analysis of crypto projects and technical analysis of cryptocurrency trading pairs.