- Etherscan data shows over 40 billion Shiba Inu on the move.
- The movement is likely an indication of SHIB movement from and to exchanges.
- SHIB is down by 4.5% in the last 24 hours.
Shiba Inu has gained significant traction and witnessed a surge in popularity, resulting in the formation of a dedicated community known as the SHIB army. This increased interest can be attributed to various factors that have contributed to SHIB’s position as the second-largest meme coin. Notably, Shiba Inu has established several partnerships, collaborations, and listings, further bolstering its prominence in the market.
Based on the data provided by Etherscan, notable transactions involving anonymous wallets have occurred within the past few hours, involving the transfer of approximately 40 billion Shiba Inu coins to and from prominent cryptocurrency exchange platforms.
Billions in Shiba Inu on the move
During this timeframe, Etherscan identified several significant transfers. These transfers encompassed amounts primarily ranging from 6 billion to 6.4 billion SHIB, with the smallest transfer involving 1.5 billion Shiba Inu coins. The two largest transfers encompassed 9 billion meme coins each.
Notably, out of the total SHIB transferred, approximately 13 billion were acquired and subsequently withdrawn from the Crypto.com exchange. Additionally, 1.5 billion were purchased on KuCoin and subsequently withdrawn to a cold wallet.
A significant quantity of SHIB, totaling 6.1 billion, has been transferred to a Binance wallet, while another 6.5 billion SHIB has been moved to OKX, indicating a potential intention to sell. Based on the current SHIB/USD exchange rate, the value of 36,500,000,000 SHIB is estimated to be approximately $316,090.
In recent developments, the Layer 2 network Shibarium and its testnet, Puppynet, have achieved significant milestones, indicating the growing utility of Shibarium. Specifically, the total number of transactions on Puppynet has exceeded 11.5 million, while the number of connected crypto wallets is nearing 16 million.
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- Source: https://thenewscrypto.com/whales-acquire-40-billion-shiba-inu-as-shibarium-achieves-remarkable-milestones/
