{"id":31092,"date":"2023-10-17T19:52:45","date_gmt":"2023-10-17T23:52:45","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=31092"},"modified":"2023-10-17T19:52:45","modified_gmt":"2023-10-17T23:52:45","slug":"shiba-inu-whale-moves-32-4-million-in-shib-large-sell-incoming","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/10\/17\/shiba-inu-whale-moves-32-4-million-in-shib-large-sell-incoming\/","title":{"rendered":"Shiba Inu Whale Moves $32.4 Million In SHIB, Large Sell Incoming?"},"content":{"rendered":"

Shiba Inu\u2019s ecosystem hasn\u2019t been spared from the crypto market volatility<\/a> in recent weeks, as the price has been caught in a whirlwind of uncertainty in recent times. While investors are still wondering about the short-term outlook of the crypto, a Shiba Inu whale has gone ahead to move $32.4 million in SHIB tokens into an unknown wallet.\u00a0<\/p>\n

Whale Moves $32.4 Million Shiba Inu<\/h2>\n

This whale transfer appears to have generated interest from SHIB investors, considering the relatively quiet environment within the Shiba Inu ecosystem<\/a>. The sheer size of this transaction is notable and worth monitoring, as a selloff <\/a>could introduce selling pressure and negatively impact SHIB\u2019s price, even if temporary.\u00a0<\/p>\n

However, sometimes whales will move their funds around between wallets for various reasons other than buying and selling. It would seem like this is the case, as an in-depth look into the transactions shows the transfer could\u2019ve been between wallets controlled by the same entity.\u00a0\u00a0<\/p>\n

4,587,030,677,374 #SHIB<\/a> (32,409,665 USD) transferred from unknown wallet to unknown wallethttps:\/\/t.co\/Mbf5ejiaYb<\/a><\/p>\n

\u2014 Whale Alert (@whale_alert) October 16, 2023<\/a><\/p>\n

According to on-chain data, the transaction was made from the address \u201c0xe9bb\u201d into a new private address \u201c0x44a8\u201d. The recipient wallet \u201c0x44a8\u201d now holds a total of over 4.58 trillion SHIB, worth more than $33 million at the time of writing. Address \u201c0xe9bb\u201d had initially received the tokens from \u201c0xA863\u201d before transferring it out to \u201c0x44a8\u201d in less than 10 minutes.\u00a0<\/p>\n\n

\u00a0Large Sell Incoming?<\/h2>\n

This whale transfer is one of the largest SHIB transactions this month<\/a>. But while whale movements tend to reveal the current market sentiment, a single transfer cannot necessarily move the entire market, even if there\u2019s a selloff.\u00a0<\/p>\n

As a result, Shiba Inu\u2019s price hasn\u2019t reacted much to the transfer but has lost 0.29% of its market cap in the past 24 hours. Although there\u2019s always a possibility of the whale dumping their entire bag, this trading behavior suggests they intend to keep holding the tokens.<\/p>\n

SHIB is currently the second-largest meme cryptocurrency, although the majority of investors are losing money at this point. As reported from data<\/a> provided by IntoTheBlock, only 9% of holders are making money at the current price.\u00a0<\/p>\n

Nevertheless, the SHIB burn rate saw<\/a> a spike of 233% since the beginning of the new week as community members remain committed to reducing its available supply.\u00a0<\/p>\n

At the time of writing, Shiba Inu is trading at $0.000007059. Yesterday, the value of the cryptocurrency skyrocketed to 0.000072 as a direct reaction to Bitcoin<\/a> crossing the $29,000 threshold. However, the meme coin has retraced most of its gains from Monday. It is down 0.61% in the last 24 hours, but seeing 1.97% gains on the weekly chart.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Shiba Inu\u2019s ecosystem hasn\u2019t been spared from the crypto market volatility<\/a> in recent weeks, as the price has been caught in a whirlwind of uncertainty in recent times. While investors are still wondering about the short-term outlook of the crypto, a Shiba Inu whale has gone ahead to move $32.4 million in SHIB tokens into an unknown wallet.\u00a0<\/p>\n

Whale Moves $32.4 Million Shiba Inu<\/h2>\n

This whale transfer appears to have generated interest from SHIB investors, considering the relatively quiet environment within the Shiba Inu ecosystem<\/a>. The sheer size of this transaction is notable and worth monitoring, as a selloff <\/a>could introduce selling pressure and negatively impact SHIB\u2019s price, even if temporary.\u00a0<\/p>\n

However, sometimes whales will move their funds around between wallets for various reasons other than buying and selling. It would seem like this is the case, as an in-depth look into the transactions shows the transfer could\u2019ve been between wallets controlled by the same entity.\u00a0\u00a0<\/p>\n

4,587,030,677,374 #SHIB<\/a> (32,409,665 USD) transferred from unknown wallet to unknown wallethttps:\/\/t.co\/Mbf5ejiaYb<\/a><\/p>\n

\u2014 Whale Alert (@whale_alert) October 16, 2023<\/a><\/p>\n

According to on-chain data, the transaction was made from the address \u201c0xe9bb\u201d into a new private address \u201c0x44a8\u201d. The recipient wallet \u201c0x44a8\u201d now holds a total of over 4.58 trillion SHIB, worth more than $33 million at the time of writing. Address \u201c0xe9bb\u201d had initially received the tokens from \u201c0xA863\u201d before transferring it out to \u201c0x44a8\u201d in less than 10 minutes.\u00a0<\/p>\n

\u00a0Large Sell Incoming?<\/h2>\n

This whale transfer is one of the largest SHIB transactions this month<\/a>. But while whale movements tend to reveal the current market sentiment, a single transfer cannot necessarily move the entire market, even if there\u2019s a selloff.\u00a0<\/p>\n

As a result, Shiba Inu\u2019s price hasn\u2019t reacted much to the transfer but has lost 0.29% of its market cap in the past 24 hours. Although there\u2019s always a possibility of the whale dumping their entire bag, this trading behavior suggests they intend to keep holding the tokens.<\/p>\n

SHIB is currently the second-largest meme cryptocurrency, although the majority of investors are losing money at this point. As reported from data<\/a> provided by IntoTheBlock, only 9% of holders are making money at the current price.\u00a0<\/p>\n

Nevertheless, the SHIB burn rate saw<\/a> a spike of 233% since the beginning of the new week as community members remain committed to reducing its available supply.\u00a0<\/p>\n

At the time of writing, Shiba Inu is trading at $0.000007059. Yesterday, the value of the cryptocurrency skyrocketed to 0.000072 as a direct reaction to Bitcoin<\/a> crossing the $29,000 threshold. However, the meme coin has retraced most of its gains from Monday. It is down 0.61% in the last 24 hours, but seeing 1.97% gains on the weekly chart.<\/p>\n

<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-31092","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/31092","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=31092"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/31092\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=31092"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=31092"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=31092"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}