SHIBAINU(SHIB)NEWS

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.

Source Arkham Intelligence

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occurred in two phases: the majority of the tokens were pulled 22 hours ago, with the remainder—3.55 billion SHIB—being withdrawn seven hours later.

Read more Shiba Inu Coin: Signs of Hope Amid Market Uncertainty

  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 Moreover, according to Arkham Intelligence, the tokens were initially withdrawn from Coinbase Prime Custody, suggesting that an institutional or qualified investor is behind the anonymous buyer.

Source CoinMarketCap

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.

Important Notice: The content presented in this article is intended for informational purposes only and should not be interpreted as financial advice. Coinshibainu.com bears no responsibility for any investment decisions made relying on the information contained herein. It is highly recommended to consult with a qualified expert or financial advisor before making any investment decisions.

hassan

Hassan is the founder and owner of CoinShibaInu.com, a news platform dedicated to providing the latest updates and analyses on cryptocurrency. Driven by his passion for fintech and digital innovation, Hassan strives to deliver accurate and insightful content that helps readers stay informed about the dynamic world of digital assets and make well-informed investment decisions.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button