Advertisement
AD

Main navigation

Whopping 2 Trillion SHIB on Move: Shiba Inu Price Rockets 4.2%

Advertisement
Mon, 11/03/2024 - 11:34
Whopping 2 Trillion SHIB on Move: Shiba Inu Price Rockets 4.2%
Cover image via www.freepik.com

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

In a surprising turn of events, the cryptocurrency market witnesses a massive movement of Shiba Inu tokens within the renowned Crypto Com exchange. The exchange has reportedly transferred a staggering 2 trillion SHIB between its hot wallets, equivalent to a whopping $78.5 million, per data from Etherscan.

Advertisement

Related

Arkham's latest insights reveal that the exchange's hot wallets currently hold a total of 2.979 trillion SHIB, surpassing the $100 million mark. This unprecedented transfer indicates that more than two-thirds of Crypto Com's SHIB holdings were shifted unexpectedly today. 

Article image
Source: Etherscan

Moreover, recent reports on CoinMarketCap suggest that the exchange's position in SHIB is even more substantial, with holdings nearing 4.3 trillion tokens, valued at nearly $150 million.

Advertisement

Shiba Inu (SHIB) price outlook

This significant movement coincides with a notable surge in the SHIB price, witnessing a 4.2% increase or more. The meme-inspired cryptocurrency, which has been gaining momentum since early March, is currently trading at $0.000035, marking a remarkable 174% surge. Despite fluctuations on the market, the Shiba Inu token maintains its position among the top 10 crypto assets, boasting a market capitalization of $20.3 billion.

Article image
SHIB to USD by CoinMarketCap

Related

SHIB enthusiasts are now scrambling to understand the motivations behind Crypto.com's large transfer. Could it be simple asset relocation, or is the exchange positioning itself for a future price swing? Potential explanations could range from routine asset relocation to upcoming market manipulation.

Related articles

Advertisement
TopCryptoNewsinYourMailbox
TopCryptoNewsinYourMailbox
Advertisement
Advertisement

Recommended articles

Latest Press Releases

Our social media
There's a lot to see there, too

Popular articles

Advertisement
AD