Whales Move 877,000,000,000 Shiba Inu (SHIB) in Series of Massive Crypto Transactions Amid Extreme Market Volatility
Deep-pocketed Shiba Inu (SHIB) investors are moving hundreds of billions of the dog-themed meme token amid the turmoil in the crypto market.
Citing data from Ethereum (ETH) analytics platform Etherscan, Shiba Inu burn project ShibaPlay says crypto whales transferred a total of 877 billion SHIB tokens worth $7.8 million in a series of transactions.
The first transfer involving 202,438,224,930 SHIB was made on November 2nd, when the 14th largest crypto asset by market cap was trading at a high of $0.000013 for the day.
Whale alert ?: 202,438,224,930 $SHIB transferred.
check details ?? https://t.co/69j1QZl7XT— ShibaPlay (@shibaplay_) November 2, 2022
The second transaction was a transfer of 190,000,000,000 SHIB to crypto exchange Crypto.com on November 6th, which also saw the digital asset reach an intraday high of $0.000013.
Whale alert ?: 190,000,000,000 $SHIB transferred.
check details ?? https://t.co/gnnP8anaIO— ShibaPlay (@shibaplay_) November 6, 2022
Wallets from crypto exchange Binance initiated the third and largest of the three transactions on November 7th when SHIB was changing hands at an intraday high of $0.000012. The whale moved 485,794,498,147 of the tokens to one of its wallets.
Whale alert ?: 485,794,498,147 $SHIB transferred.
check details ?? https://t.co/YM3cKX0fho— ShibaPlay (@shibaplay_) November 7, 2022
Shiba Inu has since tumbled along with the overall downturn in crypto markets. SHIB is now trading for $0.000010, down by 12.73% over the past 24 hours.
Much of the market downturn has coincided with troubles at crypto exchange FTX, which entered a tentative agreement with Binance for the exchange to acquire FTX.com.
FTT token has shed over 68% of its all time high on the news of FTX’s liquidity issues and at time of writing, the exchange’s native token is trading for $4.79, down 93% from its all-time high.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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The post Whales Move 877,000,000,000 Shiba Inu (SHIB) in Series of Massive Crypto Transactions Amid Extreme Market Volatility appeared first on The Daily Hodl.
