{"id":30648,"date":"2023-10-06T14:52:43","date_gmt":"2023-10-06T18:52:43","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=30648"},"modified":"2023-10-06T14:52:43","modified_gmt":"2023-10-06T18:52:43","slug":"shiba-inu-whale-moves-33-million-in-shib-heres-the-destination","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/10\/06\/shiba-inu-whale-moves-33-million-in-shib-heres-the-destination\/","title":{"rendered":"Shiba Inu Whale Moves $33 Million In SHIB, Here\u2019s The Destination"},"content":{"rendered":"

A Shiba Inu whale<\/a> recently transferred a whopping $33 million in SHIB tokens off a crypto exchange into an unknown wallet. According to on-chain data from Whale Alerts, over 4.58 trillion Shiba Inu tokens worth $33.13 million have made their way into a private wallet from the crypto exchange Bitvavo<\/a>.\u00a0<\/p>\n

Details Of The Whale Transfer<\/h2>\n

Shiba Inu\u2019s ecosystem is home to many whale investors, and transactions among these whales are not uncommon<\/a>. Over the past few months, there have been huge transfers of SHIB<\/a> from various whale addresses. This latest SHIB whale transfer was first spotted by Whale Alerts, a platform that tracks major cryptocurrency transactions.\u00a0<\/p>\n

According to on-chain data, the transaction was made from the address \u201c0xfd55\u201d into a new private address \u201c0xB96C\u201d. The recipient wallet \u201c0xB96C\u201d now holds a total of<\/a> over 4.58 trillion SHIB, worth more than $33 million at the time of writing.<\/p>\n

4,584,530,677,374 #SHIB<\/a> (33,132,403 USD) transferred from #Bitvavo<\/a> to unknown wallethttps:\/\/t.co\/HrCbR3oavs<\/a><\/p>\n

\u2014 Whale Alert (@whale_alert) October 5, 2023<\/a><\/p>\n

There\u2019s no way to know what the whale plans to do with their huge SHIB holding, but large transfers like this tend to breed speculations from investors<\/a>. When SHIB is withdrawn from exchanges, it reduces the selling pressure. This reduces the available supply of SHIB for sale, putting upward pressure on the price.\u00a0<\/p>\n

While whale movements tend to reveal the current market sentiment, a single transfer cannot necessarily move the entire market. As a result, Shiba Inu\u2019s price hasn\u2019t reacted much to the transfer, although it has lost 0.32% of its market cap in the past 24 hours.<\/p>\n

Future Outlook For Shiba Inu<\/h2>\n

Shiba Inu and its community have had to endure a few ups<\/a> and downs <\/a>around the launch of the layer-2 network Shibarium<\/a>. Before its launch, Shiba Inu witnessed massive whale withdrawals from exchanges which increased buying pressure and the price of SHIB.\u00a0<\/p>\n

While SHIB tokens are being removed from some crypto exchanges, others are simultaneously finding themselves on other exchanges. Recently, 425 billion SHIB tokens worth $3.2 million made their way into Coinbase<\/a> as part of a potential selloff. Also, SHIB tokens in wallets linked to Ryoshi, Shiba Inu\u2019s anonymous founder, were recently caught on the move<\/a>.\u00a0<\/p>\n

Although Shiba Inu witnessed a price increase at the beginning of the week, it has since lost most of these gains. Nevertheless, Shiba Inu currently maintains a market cap of $4.24 billion, so its price didn\u2019t respond all that strongly to this shift.\u00a0<\/p>\n

At the time of writing, SHIB is trading at $0.000007196. Data points to an upcoming rally with a price surge of over 400%.<\/a>\u00a0<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

A Shiba Inu whale<\/a> recently transferred a whopping $33 million in SHIB tokens off a crypto exchange into an unknown wallet. According to on-chain data from Whale Alerts, over 4.58 trillion Shiba Inu tokens worth $33.13 million have made their way into a private wallet from the crypto exchange Bitvavo<\/a>.\u00a0<\/p>\n

Details Of The Whale Transfer<\/h2>\n

Shiba Inu\u2019s ecosystem is home to many whale investors, and transactions among these whales are not uncommon<\/a>. Over the past few months, there have been huge transfers of SHIB<\/a> from various whale addresses. This latest SHIB whale transfer was first spotted by Whale Alerts, a platform that tracks major cryptocurrency transactions.\u00a0<\/p>\n

According to on-chain data, the transaction was made from the address \u201c0xfd55\u201d into a new private address \u201c0xB96C\u201d. The recipient wallet \u201c0xB96C\u201d now holds a total of<\/a> over 4.58 trillion SHIB, worth more than $33 million at the time of writing.<\/p>\n

4,584,530,677,374 #SHIB<\/a> (33,132,403 USD) transferred from #Bitvavo<\/a> to unknown wallethttps:\/\/t.co\/HrCbR3oavs<\/a><\/p>\n

\u2014 Whale Alert (@whale_alert) October 5, 2023<\/a><\/p>\n

There\u2019s no way to know what the whale plans to do with their huge SHIB holding, but large transfers like this tend to breed speculations from investors<\/a>. When SHIB is withdrawn from exchanges, it reduces the selling pressure. This reduces the available supply of SHIB for sale, putting upward pressure on the price.\u00a0<\/p>\n

While whale movements tend to reveal the current market sentiment, a single transfer cannot necessarily move the entire market. As a result, Shiba Inu\u2019s price hasn\u2019t reacted much to the transfer, although it has lost 0.32% of its market cap in the past 24 hours.<\/p>\n

Future Outlook For Shiba Inu<\/h2>\n

Shiba Inu and its community have had to endure a few ups<\/a> and downs <\/a>around the launch of the layer-2 network Shibarium<\/a>. Before its launch, Shiba Inu witnessed massive whale withdrawals from exchanges which increased buying pressure and the price of SHIB.\u00a0<\/p>\n

While SHIB tokens are being removed from some crypto exchanges, others are simultaneously finding themselves on other exchanges. Recently, 425 billion SHIB tokens worth $3.2 million made their way into Coinbase<\/a> as part of a potential selloff. Also, SHIB tokens in wallets linked to Ryoshi, Shiba Inu\u2019s anonymous founder, were recently caught on the move<\/a>.\u00a0<\/p>\n

Although Shiba Inu witnessed a price increase at the beginning of the week, it has since lost most of these gains. Nevertheless, Shiba Inu currently maintains a market cap of $4.24 billion, so its price didn\u2019t respond all that strongly to this shift.\u00a0<\/p>\n

At the time of writing, SHIB is trading at $0.000007196. Data points to an upcoming rally with a price surge of over 400%.<\/a>\u00a0<\/p>\n

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