Shiba Inu: Binance Transfers 1.6T SHIB Worth $21 Million To Unknown Wallet

Vinod Dsouza
Shiba Inu Binance
Source: Twitter

A mysterious Binance-affiliated address transfers 1.62 trillion Shiba Inu tokens worth $21 million to an unknown wallet address. The transfers occurred in the early hours of Friday and initiated the first four fund movement in less than 10 minutes. The Binance account continued the transfer spree hours later moving the tokens to a private wallet address.

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Shiba Inu: Binance Wallet Transactions

shiba inu binance
Source: Twitter

The reason for moving trillions of SHIB tokens to an unknown wallet address remains to be unknown. The first four transactions were initiated and completed in less than 10 minutes. Here’s how the Binance wallet moved the tokens:

First transaction: The Binance-affiliated address moved 499,999,668,400 SHIB tokens worth $6.4 million to an unidentified wallet.

Second transaction: The address moved the same amount as the first transaction.

Third transaction: The address moved 126.1 billion SHIB tokens worth $1.6 million to the private wallet address.

Fourth transaction: The address moved the same amount as the first and second transactions.

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The transfers occurred after Shiba Inu spiked nearly 54% in the last 30 trading days. All the tokens were moved to the same unidentified wallet from two different Binance-affiliated addresses. However, the whale wallet still holds over 1.6 trillion SHIB tokens worth $20.9 million.

SHIB is experiencing whale movements since mid-2021 and the rich list is accumulating the token at every dip. A few days ago, a whale purchased 3.3 trillion tokens worth a staggering $38.9 million.

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At press time, Shiba Inu was trading at $0.00001252 and is up 3.2% in the 24 hours day trade. SHIB is down 85.4% from its all-time high of $0.00008616, which it reached in October 2021.