Shiba Inu Sees Massive Surge in Large Transactions Amidst Market Volatility
As reported earlier by coinshibainu.com, the popular meme-inspired cryptocurrency has experienced a substantial increase in large transaction volumes this week, reaching a total of 9 trillion SHIB. This period was marked by significant volatility in the Shiba Inu token’s price, with an initial drop of around 30% followed by a sharp recovery.
The heightened activity among major cryptocurrency holders drew attention to an unidentified whale. Specifically, the address “0x4B5” withdrew approximately 220 billion SHIB, equivalent to $3.04 million. The withdrawal occurred in two phases: the majority of the tokens were pulled 22 hours ago, with the remainder—3.55 billion SHIB—being withdrawn seven hours later.
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As a result, the unknown entity has already realized a profit of $114,370 from this investment. Moreover, according to Arkham Intelligence, the tokens were initially withdrawn from Coinbase Prime Custody, suggesting that an institutional or qualified investor is behind the anonymous buyer.
Meanwhile, the price of the meme-inspired cryptocurrency continues to rise, reaching $0.0000137 at the time of writing, marking a 2% increase. At its lowest point during the recent market turmoil, the SHIB price dropped to $0.000011, indicating a nearly 29% increase over three days. This is notable given that Shiba Inu is already a multi-billion-dollar asset.
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