In a surprising turn of events, the cryptocurrency market is witnessing a massive movement of Shiba Inu tokens within the renowned Crypto Com exchange. The exchange has reportedly transferred a staggering 2 trillion SHIB between its active wallets, equivalent to a whopping $78.5 million, according to data from Etherscan.
In a surprising turn of events, the cryptocurrency market is witnessing a massive movement of Shiba Inu tokens within the renowned Crypto Com exchange. The exchange has reportedly transferred a staggering 2 trillion SHIB between its active wallets, equivalent to a whopping $78.5 million, according to data from Etherscan.
the last of arkham perspectives reveal that the exchange’s active wallets currently hold a total of 2.979 trillion SHIB, surpassing the $100 million mark. This unprecedented transfer indicates that more than two-thirds of Crypto Com’s SHIB holdings were unexpectedly moved today.
Furthermore, recent reports on CoinMarketCap suggest that the exchange’s position in SHIB is even more substantial, with holdings approaching 4.3 trillion tokens, valued at almost $150 million.
Shiba Inu (SHIB) Price Outlook
This significant move coincides with a notable increase in the price of SHIB, with an increase of 4.2% or more. The meme-inspired cryptocurrency, which has been gaining momentum since early March, is currently trading at $0.000035, up a notable 174%. Despite market fluctuations, the Shiba Inu token maintains its position among the top 10 crypto assets, with a market capitalization of $20.3 billion.
SHIB enthusiasts are now struggling to understand the motivations behind Crypto.com’s huge transfer. Could it be a simple asset relocation, or is the stock market positioning itself for a future price swing? Possible explanations could range from routine asset relocation to upcoming market manipulation.
