As trading volume of Shiba Inu has put up massive rise, whales transferred over trillion meme coins

Several large Shiba Inu (SHIB) transfers that totaled more than a trillion coins have been announced on Twitter under the handle @shibaplay_. The largest exchange involved more than 320 billion meme coins. Meanwhile, the SHIB trading volume increased by 7,449,053.83% over the previous 24 hours. It amounts to $13,713,548,006,909 at the time of this writing; this SHIB has been transferred.

Trillion Shiba Inu (SHIB) Wired as Trading Volume Spikes 7,449,053.83%

Over the last 12 hours, Etherscan has detected the four transactions indicated above. This ETH token tracker’s information reveals that three of them were transferred between anonymous wallets. One of these addresses, 0x2efb50e952580f4ff32d8d2122853432bbf2e204, took part in two of these transfers and currently owns a staggering 3,460,736,189,289 SHIB.

Moving 160,000,000 SHIB between the Crypto.com exchange’s internal wallets. Recently, this company claimed that it retains about 40% of its assets in Shiba Inu coins in response to CZ Binance’s request for proof of reserve.

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The number of SHIB holders keeps rising quickly over the weekend. The number of SHIB holders has increased by about 5,000 by Saturday in just two days. However, despite that success, the pricing remained unchanged. SHIB’s decline in the last day has been almost 3%. Its current exchange rate, according to CoinMarketCap, is $0.000008333. The historic top SHIB of $0.00008845, attained in late October last year, is 90.60% lower than this.

Five large transactions involving SHIB have been recorded in last 24 hours

The anomalous spike in trading volume might be due to a huge spike in the amount of SHIB transferred, running into trillions of SHIB in the last 24 hours. While massive whale accumulation might have contributed to the huge amount transferred, another reason might be internal wallet reshuffling on crypto exchanges.

According to Etherscan, five large transactions involving SHIB have been recorded in the last 24 hours. Notably, transactions totaling 280 billion SHIB, 321 billion SHIB and 265 billion SHIB were seen on Etherscan. Another 160 billion SHIB were moved between the internal wallets of the Crypto.com exchange. Crypto.com while disclosing its proof of reserves, Crypto.com revealed that 20% of its reserves are domiciled in SHIB.

In recent hours, another 75,166,377,249 billion SHIB were transferred, per Etherscan data. At the time of publication, SHIB was down 2.9% at $0.0000084. Shiba Inu currently ranks as the 13th largest cryptocurrency with a market cap of $4.53 billion.

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