Sunday, June 16, 2024

Massive Transaction: Shiba Inu Whale Unexpectedly Transfers 4.1 Trillion SHIB

Mysterious Crypto Whale Initiates Trillion SHIB Movement Amidst Memecoin Surge

In a remarkable turn of events, a crypto whale of unknown origin has recently set off a flurry of activity by transferring trillions of Shiba Inu (SHIB) tokens, coinciding with a notable upswing in the leading memecoin’s value that hasn’t been witnessed in weeks.

The ever-watchful blockchain-tracking service, Whale Alert, has captured this intriguing development, revealing that a deep-pocketed investor executed a whopping 4.1T SHIB move valued at approximately $32.86 million on Friday. Interestingly, both the source and destination wallets remain unidentified, shrouding this transaction in an air of enigma.

On the price front, Shiba Inu experienced a dramatic surge on Friday, catapulting to $0.00000833—a price level not witnessed since June 22nd—from its previous low of $0.00000745, representing a remarkable surge of nearly 12%.

As of the time of writing, Shiba Inu stands at a value of $0.00000797, reflecting a slight 1.1% decline within the past 24 hours.

Whale Alert’s diligent monitoring also highlights a series of substantial transactions involving other prominent memecoins, with a particular focus on SHIB’s rival, Dogecoin (DOGE).

Specifically, the following noteworthy DOGE transactions have been observed:

  1. A sum of 86,199,011 DOGE, valued at over $6.1 million, migrated from the trading platform Robinhood to an undisclosed wallet.
  2. Another transfer from Robinhood involved 100,364,220 DOGE, totaling over $7.1 million, heading towards an anonymous wallet.
  3. A sizeable amount of 87,868,226 DOGE, worth more than $6.1 million, departed from the renowned crypto exchange Binance towards an undisclosed destination.
  4. In a separate transaction, an anonymous wallet transferred 86,199,010 DOGE, amounting to over $6 million, to crypto exchange Binance.

At the time of reporting, Dogecoin’s value hovers around $0.0685, reflecting a 3.54% decrease within the past 24 hours.

Lastly, Whale Alert has also flagged an anonymous whale maneuvering a substantial quantity of the memecoin Pepe (PEPE). This secretive entity transferred a staggering 3,941,534,011,651 PEPE tokens, valued at more than $7.2 million, from an undisclosed wallet to the prominent crypto exchange Binance.

Read Also: Chainalysis Report: Crypto Scam Profits Plummet by 77% YoY, while Ransomware Attacks Soar in H1 2023

Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.

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