Last week was quite negative for the popular meme cryptocurrency Shiba Inu (SHIB). The price did not see a significant drop, but it also did not see any positive development. Furthermore, SHIB price remains below the key resistance level of $0.0000183 per token.
Last week was quite negative for the popular meme cryptocurrency Shiba Inu (SHIB). The price did not experience a significant drop, but it also did not experience any positive development. Furthermore, SHIB price remains below the key resistance level of $0.0000183 per token.
There seem to be no takers for this popular meme cryptocurrency. However, at least one unknown major player was spotted in the Shiba Inu token this week.
Tomiwabold OlajideAs revealed Arkham According to the data, the address “0x9d9f” withdrew 593.26 million SHIB, equivalent to 10.32 million USD, from the major Japanese exchange Coinone. These were the first and only transactions made by the owner of this address.
Could this wallet be connected to Coinone? It’s an open question. There is no reliable evidence. Also, there were some strange transactions taking place on the wallet, such as swapping meme cryptocurrencies, not SHIB, to Uniswap. This activity is not typical for active wallets of crypto exchanges with a turnover of tens of millions of dollars.
Discarding theories that it is an exchange wallet opens up a more interesting field of reasoning.
Gamza KhanzadaevFor example, is the withdrawal a consequence of more than $10 million worth of SHIB purchases made by this whale? What are your expectations regarding the price of the popular meme cryptocurrency? Will this trigger a new wave of Shiba Inu token purchases?
