An analytics account hosted on social media platform Major trading company Cumberland transferred two massive sums in cryptocurrency.
An analytics account hosted on social media platform Major trading company Cumberland transferred two massive sums in cryptocurrency.
Nearly 200 Billion SHIB Goes To Major Exchanges
The aforementioned account @OnchainDataNerd spread the word that the popular cryptocurrency trading firm Cumberland, which has been operating in the market since 2014 and in the past worked with Goldman Sachs and Nomura as a liquidity provider for its cryptocurrency operations, has transferred 144 billion Shiba Inu to the Coinbase exchange.
A few hours earlier, the same company transferred 50.36 billion to OKX. These shares of SHIB are valued at $3.3 million and $1.17 million. Now, after these transfers, Cumberland’s wallet still contains approximately 1.69 billion Shiba Inu worth approximately $45,000.
Overall, according to a previously published Guru-Investingreport, in the last 24 hours, several crypto whales have transferred a staggering 1.5 billion Shiba Inu. These transfers mainly contained between 42.6 billion SHIB and 397 billion SHIB and involved major exchanges, such as Binance, Kraken, Gate.io, and the aforementioned Coinbase.
Shiba Inu price evolution
In the last 24 hours, the second most popular dog-themed cryptocurrency, SHIB, has lost 3.52%. Today, this meme coin grew again and managed to recover 5.57%. reaching $0.00002419 with a small decrease later.
Earlier this week, popular X trader and cryptocurrency analyst Ali Martinez posted a SHIB chart, accompanying it with a prediction of a possible bullish breakout.
The trader shared that Shiba Inu is currently moving within the descending parallel channel. If the meme coin is able to break out of the upper boundary of this formation, it could rise as much as 20%; that would be the price level of $0.00002954.
SHIB burns in decline
According to wallet tracker Shibburn, over the last 24 hours, the SHIB community dumped 2,367,075 meme coins. Still, the burn rate metric is deep in the red zone as it has increased by -91.94% compared to the previous day. So far there have only been three burn transfers.
