Shiba Inu (SHIB) Whales Celebrate New Year With 4.2M Transfer

On Jan 3, 2024

One of the most popular meme coins in the industry, Shiba Inu (SHIB) whales has celebrated the new year with a massive 4.2 million transactions. Etherscan identified the transfer that is set to officially be one of the largest movements of SHIB in 2024. Moreover, the transaction was worth a remarkable $44.39 million when it took place.

The asset is set to be one of the most observed meme coins of the coming year. With the continued establishment of its layer-2 network, Shibarium, many have high hopes for how it could perform throughout 2024. Alongside expected positives for the overall market in the new year, Shiba Inu could thrive.

Also Read: Shiba Inu, Bitcoin & Ethereum: 3 Boldest Price Predictions For 2024

Shiba Inu Whales Welcome 2024 with 4.2 Million Transaction

The digital asset industry has experienced quite a resurgence across 2023. Now, heading into the new year, that optimism is expected to continue. With a Spot Bitcoin ETF expected to be approved in the first week of 2024, the market as a whole should see a tremendous benefit.

Among that, the meme coin market is also carefully observing the start of 2024. Subseuqnlety, Shiba Inu (SHIB) Whales have welcomed in the new year with a massive 4.2 million transaction. However, there has yet to be any information regarding the source or destination of the large transfer.

Also Read: Shiba Inu: Shibarium To Start Burning SHIB Tokens From January 2024

At the time of the transactions, the move would have been worth more than $44 million. Yet, currently, the asset is trading at $0.00001059 and is up 0.65% according to CoinMarketCap. Moreover, the asset is situated in a rather tight range zone that could bring about a ton of volatility.

Currently, SHIB is facing support at the $0.00000850 level, with noted buying pressure. Alternatively, it has a resistance located right near its current $0.000001050 mark. The unknown nature of the transfer has raised some intrigue from the SHIB community, but could still aid the asset’s predicament.