Enormous amount of Shiba Inu has been moved to brand new wallet as price goes up by nearly 11%

According to Whale Alert, a few trillion Shiba Inu were exchanged in an anonymous transaction less than 20 hours ago. The tracker marked the participating wallets as “unknown” ones. Shiba Inu has since become one of the most traded coins among the top Ethereum whales, marking another significant milestone for them. In addition, its price increased by almost 12% throughout the previous week.

Trillions of SHIB Moved by Whales as Price Jumps 11% Weekly

3,333,256,285,484 Shiba Inus were reportedly stuffed between two anonymous digital wallets, according to Whale Alert. The value of this meme cryptocurrency is $30,262,633. This was the only transaction on this address’s list thus far and was brand-new. It currently only has these 3.3 trillion SHIB in its possession.

25,000,000,000 SHIB were also transferred previously from the wallet 0xc718dbb4748bdb941a60435c86285275dcf80d86 to another wallet. Such large-scale SHIB transactions often indicate mega whales or cryptocurrency exchanges. For instance, Binance had transferred 12,661,395,600,288 Shibas. That transaction was used to remove meme cryptocurrency from ShibaSwap’s staking pool. Then, however, the SHIB was restaked exactly 4,000,000,000,000 times. Binance has a whitelisted address there that it has used to stake Shiba Inu for its consumers and subsequently distribute the profits among them since the ShibaSwap DEX launched.

The second-largest canine coin in market cap has experienced significant price movement over the last week. It showed an increase of more than 18% from January 3 to yesterday. The price, however, lost around 10% of its rise today, printing several significant red candles on the hourly chart. The price of SHIB frequently tracks that of Dogecoin, the original meme token. When news broke that Twitter was getting ready to roll out a new feature called “Coins” two days ago, DOGE rose by a little more than 10%, but it soon fell by half of that and has been bouncing ever since.

According to Elon Musk’s prior statements made on Twitter and numerous podcasts, Twitter’s token would be used to reward content creators instead of Dogecoin, as the DOGE army had hoped. Elon Musk has long been a supporter of Dogecoin and mentioned it in 2021 when he made his debut on the well-known SNL TV program. Following that, DOGE jumped to a record high of $0.7376. The most popular meme token currently trades almost 90% below that previous price high.

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