Whale Transfers 4 Trillion SHIB, Boosting Investor Sentiment
On September 23, a significant transfer of Shiba Inu (SHIB) meme coin caught attention as a whale moved over 4 trillion SHIB coins from a cryptocurrency exchange to an undisclosed wallet. This notable transaction, observed by the cryptocurrency tracking platform Whale Alert, had a stabilizing effect on the SHIB price, indicating a positive impact on investor sentiment.
Details of the SHIB Transfer
According to Whale Alert, approximately 4.6 trillion SHIB coins, valued at $33.38 million, were transferred from the Bitvavo exchange to an unknown wallet. The substantial nature of this transfer garnered interest among investors, particularly within the Shiba Inu community, as reflected in the recent price gains despite a broader market slump. The receiving wallet, identified as 0xfd557a929CC7c11111e655348774f8a790D3eA5F, now holds the exact amount of SHIB coins transferred.
Speculations Surrounding the Transfer and SHIB Burn Rate
The recent transfer has sparked various speculations within the crypto community, ranging from a potential sale to a redistribution of holdings by a whale. Another possibility is that the crypto exchange itself may be relocating a portion of its SHIB holdings to an internal address.
The true nature of the transfer remains a subject of intrigue and discussion. Additionally, the burn rate of SHIB tokens has seen a significant surge, with 247,753,783 SHIB tokens incinerated in the past 24 hours, representing a 35.88% increase from the previous day.
