Dog-themed cryptocurrency Shiba Inu saw a massive move of 1.05 trillion SHIB tokens, worth approximately $22.7 million, to a mysterious whale wallet on March 2. The transfer detected by crypto data tracker Whale Alert has sparked curiosity about the whale’s identity and motive. they remain unknown.
Dog-themed cryptocurrency Shiba Inu saw a massive move of 1.05 trillion SHIB tokens, worth approximately $22.7 million, to a mysterious whale wallet on March 2. The transfer detected by crypto data tracker Whale Alert has sparked curiosity about the whale’s identity and motive. they remain unknown.
Whale alert reported that “1,050,000,000,000 SHIB (22,787,450 USD) were transferred from an unknown wallet to an unknown wallet.”
The whale movement of 1.05 trillion SHIB coincided with a surge in Shiba Inu prices, which hit a nearly two-year high. A phenomenal nine-day price rally for Shiba Inu resulted in a two-year high of $0.0000235 for SHIB on March 2.
Consequently, Shiba Inu recorded its biggest weekly rise and best performance since October 2021, when it hit all-time highs of $0.00088. At the time of writing, SHIB price has fallen 4.75% in the last 24 hours to $0.00002043, reflecting profit-taking. However, Shiba Inu has remained 112% higher in the last seven days.
Etherscan, a blockchain explorer, has revealed some details about the mysterious whale wallet that obtained the 1.05 trillion SHIB. The wallet is a major holder of Shiba Inu tokens, and currently holds 848,512,243,279 SHIB worth $17,632,084, implying that it could have transferred around $5 million worth of SHIB from its massive $1.05 trillion purchase. of SHIB. The wallet also does not contain any other tokens except SHIB.
A possible explanation for this move could be that the whale wants to accumulate tokens in the hope that the price of SHIB will continue to rise. However, the exact reason for the transfer of SHIB is unknown.
Positive news continues to arrive in the Shiba Inu ecosystem. Lucymember of the Shiba Inu team, announced in a recent tweet that the SHIB burning portal is now available on the Shibarium tab of the Shib.io platform, allowing the Shiba Inu community to burn their SHIB tokens.
