Shiba Inu Whales in Action: 21 Billion SHIB Moved to Major Exchange

Vignesh Karunanidhi
Shiba Inu Investors Struggle as Just 9% Remain Profitable
Source: Mid-Day

Shiba Inu (SHIB), a meme coin that has garnered considerable attention and popularity, has seen mixed performance in terms of its price. However, the project has made notable progress in terms of its utility and development efforts. Setting itself apart from other meme coins, Shiba Inu actively engages in development initiatives and maintains a regular update cycle to keep its community informed.

SHIB has also made major gains in terms of price over the last seven days. According to CoinMarketCap data, SHIB is up by 5.4% in the last seven days. Data from Etherscan shows that billions of SHIB have been moved to Binance amidst the price rise.

Source: Etherscan

Shiba Inu whales move billions of SHIB

A significant quantity of SHIB tokens, totaling 21 billion in value and equivalent to $149,940 at the current exchange rate, was transferred to Binance. The transfer occurred in two batches: one involving 10,891,899,999,999 SHIB and the other involving 2,000,000,000 SHIB. These coins were sent to the Binance 14 address associated with the platform. Additionally, a third transaction involving 2,499,600,000 SHIB took place, transferring coins between two anonymous wallets.

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CoinMarketCap data shows that SHIB is trading at $0.000007049, with a 0.77% drop in value over the last 24 hours. In comparison to other meme coins, SHIB exhibited the most gains in the last seven days.