Shiba Inu: Whale Moves Spark Excitement Within SHIB Community
In recent crypto news, Shiba Inu (SHIB) has witnessed a shift as a new player acquired a significant 140 billion SHIB tokens.
This development, highlighted by Lookonchain, comes amid a period of anticipation for a potential breakout in SHIB prices.
This acquisition is part of a larger trend, with four major investors accumulating a total of 2.4 trillion SHIB from various exchanges over the past month. Notable instances include an investor amassing 1.44 trillion SHIB, valued at $14.54 million, from both Binance and Gateio in the last three days. Another participant gathered 237.87 billion SHIB, worth $2.4 million, from Binance 19 days ago. Additionally, Justin Sun acquired 577 billion $SHIB from Binance about 22 days ago.
Simultaneously, an undisclosed entity moved 9.3 billion SHIB to a “dead wallet” a day ago, causing the burn rate to surge over 27,500% in under 24 hours, as observed on Shibburn.
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Crypto analytics from IntoTheBlock revealed a remarkable 1,300% surge in large transactions by SHIB whales between Tuesday and Wednesday last week. These transactions, involving at least $100,000 worth of SHIB, numbered 62 and amounted to 9.38 trillion SHIB, valued at nearly $89.88 million.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
