As previously reported by U.Today, the popular meme-inspired cryptocurrency Shiba Inu saw a huge surge in transaction volume earlier this week, totaling 9 trillion SHIB. The period was characterized by sharp price spikes for the Shiba Inu token, with its quotes first falling by almost 30% and then soaring even higher.
Activity among large holders continued when a previously unknown whale caught the eye. Thus, the address “0x4B5” withdrew about 220 billion SHIB, equivalent to $3.04 million. The accumulation was made in two tranches, with the majority of the tokens arriving 22 hours ago and the remainder, namely 3.55 billion SHIB, arriving seven hours later.
As a result, the anonymous organization has already received $114,370 from its investment in Shiba Inu (SHIB). Moreover, according to Arkham Intelligence, the tokens were initially withdrawn from Coinbase Prime Custody, which suggests that an institution or qualified investor is behind the unknown buyer.
Meanwhile, the price of the popular meme-inspired cryptocurrency continues to rise, reaching $0.0000137 at the time of writing, up 2%.
At the bottom of the recent market turmoil, SHIB hit $0.000011, so we’ve got a 29% gain in almost three days. And that’s on top of the fact that Shiba Inu is already a multi-billion dollar asset. Amazing.
