In a surprising turn of events, on-chain data has exposed a significant increase in Shiba Inu token purchases, totaling $10.2 million in just a 20-hour period. 382 billion Shiba Inu tokens were reportedly traced to an undisclosed wallet, initiated through two substantial transactions.
In a surprising turn of events, on-chain data has exposed a significant increase in Shiba Inu token purchases, totaling $10.2 million in just a 20-hour period. 382 billion Shiba Inu tokens were reportedly traced to an undisclosed wallet, initiated through two substantial transactions.
In the initial transfer, an anonymous figure funneled a whopping 357.97 billion SHIB, valued at a hefty $9.77 million, into the enigmatic wallet. It was closely followed by a more conservative transfer of 24.09 billion SHIB, equivalent to $601,520, reportedly from the Bitvavo exchange.
Of notable interest is the possible connection between these transactions and the European crypto platform Bitvavo, as indicated by data from Arkham Intelligence. There is speculation whether these undisclosed wallets could be linked to the aforementioned platform.
SHIB price sinks
The timing of these colossal symbolic moves is of particular importance, as they unfold amid a notable 25% drop in the Shiba Inu price since Friday. This drop has led to a break of a crucial support level of around $0.00003 per token, resulting in a drop to $0.000024 per SHIB.
Currently, investors and enthusiasts remain nervous, watching closely to discern whether the drop in SHIB quotes will persist or whether it marks a mere correction after the previous astonishing growth.
This confluence of events ignites curiosity and provokes inquiries into the underlying forces driving Shiba Inu’s recent activities. In the context of a week already marked by important events within the SHIB ecosystem, this latest disclosure only amplifies the intrigue surrounding the trajectory of the meme cryptocurrency.
