Shiba Inu: 2.4 Trillion SHIB Moved From Binance, Here’s Where It Went

Sahana Kiran
Shiba Inu
Source – Unsplash

The crypto-verse encompasses various entities, including pertinent players known as whales. These whales conduct substantial crypto transactions that hold significance in the market. Due to their capacity to influence market movements, it is essential to monitor their activities closely. Recently, a whale made a noteworthy transfer of a massive amount of Shiba Inu [SHIB] tokens from the prominent crypto exchange Binance.US.

Whale Alert reported that someone transferred 2,416,836,656,676 SHIB tokens from the crypto exchange Binance.US in a single transaction about 11 hours ago. This substantial transfer is valued at $18,771,570.

Whale Alert data revealed that the above amount of Shiba Inu was transferred to an anonymous wallet. However, according to information from Arkham Intelligence, this address is associated with Binance.US. The platform shows numerous SHIB transfers occurring between internal wallets within the crypto exchange.

The transfer appeared to be an internal transaction as it had little impact on the meme coin’s price. At press time, SHIB was trading at $0.000007847, showing a modest 1.15% daily increase. Earlier today, the coin experienced a slight decline in its market position. However, it has since regained ground, placed 18th with a market cap of $4.62 billion.

Also Read: Shiba Inu Price Plunge Triggers Massive SHIB Transfers on Binance

Shiba Inu takes on South Korea

Shiba Inu has gained significant popularity in South Korea, with Bithumb and Upbit listing the meme coin. This further led to widespread adoption among South Korean investors. Capitalizing on this success, Coinone, the country’s third-largest crypto exchange, made the decision to also list SHIB, further solidifying its presence in the South Korean crypto market.

Coinone also allows SHIB token trading on its platform. This further fortified the credibility of the meme coin’s adoption on the exchange. Furthermore, the exchange’s accessibility to clients across Asia will boost the token’s presence and establish a strong foothold in the region.

Also Read: Shiba Inu Attains New ’30 Million’ Record