Shiba Inu Whale Transfers Out 4,000,000,000,000 SHIB From Binance
As per data from the crypto transaction tracker service , a massive Shiba Inu transfer has taken place during the past day. This transaction involved the movement of 4,000,000,000,000 SHIB on the Ethereum blockchain, worth about $34.7 million at the time of the transfer.Since the transaction here is so large, it’s likely that the entity behind it was a whale. Sometimes, movements from this cohort can have visible impacts on the market due to the sheer scale involved in them. But how the price would respond to their moves depends on what their intention was with the transfer in question.
This massive SHIB transfer seems to have only taken a fee of $1.44 to go through on the Ethereum blockchain | Source:
As you can see above, the sending address for this transfer was a wallet affiliated with the crypto exchange Binance, while the destination of these coins was a wallet attached to the SHIB Staking service. Staking is a process that involves investors locking a number of tokens into a contract for some duration of time and earning some rewards for it in return.
Such HODLing conviction could prove to be constructive for the price itself in the long term. Also, in the past day, the 100 biggest Ethereum whales have also gone around shopping for SHIB, as data from WhaleStats displays below. Naturally, such accumulation from the whales is also a positive sign for the asset’s value.
//twitter.com/WhaleStats/status/93745668SHIB Price
At the time of writing, Shiba Inu is trading around $0.00000923, up 13% in the last week.Looks like the meme coin has caught some sharp uptrend in recent days | Source: