Whale Alert, a well-known crypto tracking service, has noted the transfer of a massive 2.28 trillion Shiba Inu (SHIB) tokens from Binance to a wallet whose destination is unknown.
In recent times, big Shiba Inu holders, often referred to as “whales,” have been quite active, making substantial moves with their SHIB holdings. Many of these significant SHIB transactions involve taking SHIB tokens out of centralized exchanges, with Binance being a notable platform in these movements.
Lucie Highlights Massive Shiba Inu Token Movement
Shiba Inu’s marketing specialist, Lucie, brought attention to a significant SHIB token movement shared by Whale Alert in a tweet yesterday.
According to on-chain data, an unidentified Shiba Inu whale withdrew an impressive 2.28 trillion SHIB tokens from Binance, the world’s largest crypto exchange by 24-hour trading volume.
The substantial transaction, occurring at 10:20 UTC yesterday, amounted to approximately $23.58 million. Evidently, the anonymous whale initially amassed the canine-themed tokens on Binance before executing the withdrawal to an external wallet.
Community Interest Sparks as Smart Money Moves SHIB Tokens
The recent transaction of withdrawing 2.28 trillion SHIB tokens from Binance stirred interest within the Shiba Inu community, including remarks from the cryptocurrency’s marketing lead, Lucie.
Lucie, commenting on the transaction, noted, “Smart money understands where the people are.”
Smart money understands where the people are. $SHIB https://t.co/VgdeWUb5Mr
— 𝐋𝐔𝐂𝐈𝐄 | SHIB.IO 🧜🏼♀️ (@LucieSHIB) December 26, 2023
As of the latest update, the substantial amount of 2.28 trillion SHIB tokens remains in the receiving address, securing SHIB’s position as the fourth-largest asset in that wallet.
According to Etherscan data, the unlabeled wallet also holds $63.27 million worth of MATIC, $35.5 million in FDUSD, $25 million in FTM, and $23 million worth of SHIB.
Withdrawing such a considerable amount of SHIB from Binance suggests the user behind the transaction may have a long-term holding strategy for the tokens.
Growing Whale Interest in SHIB Sparks Significant Token Movements
Crypto whales have recently demonstrated a notable interest in Shiba Inu (SHIB), with significant token movements becoming a trend. The latest transaction aligns with this pattern, as a substantial amount of SHIB was moved.
On December 25, an anonymous whale executed a transfer of 4.23 trillion SHIB tokens to another unlabeled address.
Adding to this trend, a new whale withdrew 237 billion SHIB tokens from Binance over the weekend. Notably, last week, Tron founder Justin Sun’s wallet recorded its first Shiba Inu transaction, receiving 577 billion SHIB (equivalent to $6 million) in two transactions.
Despite Bitcoin experiencing a recent pullback to $42,000, SHIB has maintained its position above the $0.00001 price level for nine consecutive days. This sustained performance has led to speculations that the canine-themed token could be gearing up for a significant uptrend, marking the longest period Shiba Inu has stayed above the $0.00001 level in several weeks.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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