Whale Transfers 4.25T SHIB, Is an Uptrend Incoming?
In a very interesting development for the Shiba Inu ecosystem, a whale has transferred an astronomical 4.25 trillion SHIB. Indeed, Whale Alert recognized the transfer that was worth a whopping $44.91 million. Interestingly, the transaction preceded one of similar size just a few days earlier.
Specifically, December 26th witnessed another Shiba Inu whale transaction take place. At that time, 2.28 trillion SHIB was on the move in a transfer that was worth more than $23 million. Those tokens were reportedly shifted from the Binance exchange into an unknown wallet. However, could the conjoining transfers be signs of greater price movement soon?
Also Read: Shiba Inu: What Will You Do If SHIB Reaches $0.01?
SHIB Whale Moves 4.25 Trillion Tokens in Massive $44 Million Transfer
Few digital assets boast the kind of community that Shiba Inu has. Indeed, the SHIB Army represents one of the strongest communities available to the market. Subsequently, they are seeking out a positive end to 2023 for the meme coin. Based on recent developments, that may well be in play.
Indeed, the Shiba Inu ecosystem recently identified one whale that transferred a remarkable 4.25 trillion tokens. Moreover, the transactions as worth more than $44 million as reported by the crypto tracking account on X (formerly Twitter) Whale Alert. What makes the development all the more interesting is that it occurred just days after another massive whale transaction occurred in December.
Also Read: Solana-Based BONK Overtakes Shiba Inu & Dogecoin Volumes
Shiba Inu is currently trading at $0.00001053 and is down 0.29% over the last 24 hours according to CoinMarketCap. However, that decline is not the same story that the asset has told over the last month. Specifically, SHIB has noted an increase of more than 26% over the last 30 days.
Additionally, rumblings have been occurring regarding the potential for the asset to add another zero to its price point. Subsequently, it is currently standing around the $0.00001 mark, which has immense psychological significance. IF it were to breach that support level, it could experience a more devastating downward fall. Conversely, surpassing it would mean an upward trend is in the works.
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