Mysterious whale abruptly moves 6 trillion Shiba Inu (SHIB) in massive transaction

According to WhaleAlert, approximately 6 trillion Shiba Inu (SHIB) worth an estimated $65 million have been transferred in three lump payments between whale wallets.

The three transactions, which occurred at minute intervals, were reported by Whale Alert more than four hours ago. The first is a SHIB worth $20,514,548, worth 1,920,298.469,247.

While the second is a SHIB worth $24,008,496. The last is a SHIB worth $20,514,548, worth 1,920,298.469,247.

The reason for the transfer is unknown, although it could be due to wallet reshuffling by whales or exchanges. On April 1, Shiba Inu experienced the highest daily active SHIB address rise in over a year, with over 35,788 unique addresses interacting on the network.

Shibarium’s public beta testnet, or Puppynet, which recently handled over one million transactions and had over 200,000 interacting wallet addresses, could have played a role.


SHIB/USD 4-hour chart | Source: TradingView

SHIB was down 3% in the last 24 hours to $0.00001068, in line with recent market trends at the time of writing. In the previous 24 hours, 20,652,906,776,141 SHIB worth $223,618,396 had been transacted. Shibburn, a Shiba Inu burn effort, has issued a new Twitter update.

Its website mentions variations in the amount of SHIB’s overall supply. It also updates the data; for example, in March, it reported 6,782,788,547 tokens destroyed, and with 326,548,824 transferred to the SHIB contract, this would equal 7,109,337,371 SHIB burned.

According to the report, 1,002,593,057 tokens have been sent to the SHIB contract this year. The SHIB burner also highlights planned Web3 projects backed by the Shib token, such as a marketplace, wallet, etc.

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