Keith Shiba Inu transferred more than 4.58 trillion SHIB tokens from the Bitvavo cryptocurrency exchange to an unknown wallet.
The value of the moved coins at the current price is about $33 million.
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Keith transferred trillions of SHIB to Bitvavo
There are many whale investors in the Shiba Inu ecosystem, and transactions between them are not uncommon. Over the past few months, trackers have repeatedly recorded large SHIB transfers from various addresses.
According to the tracker Whale Alert, associated with the well-known trading platform Bitvavo, address 0xfd55 transferred the tokens to the private wallet 0xB96C. It is not possible to understand what the whale plans to do with the received coins – however, such large transactions give rise to a lot of speculation from the crypto community. The withdrawal from exchanges reduces the available supply of SHIB, thereby reducing selling pressure.
Although the actions of large investors often influence the price of an asset, this time the price of Shiba Inu barely reacted to the multi-million dollar transfer. At the time of writing, memcoin is trading at $0.00000724, having gained 0.8% over the past 24 hours.
Source: CoinGecko
Prospects for Shiba Inu
In recent weeks, the Shiba Inu developers and community have had to endure several ups and downs associated with the launch of the Shibarium second-layer (L2) network. Before the debut of the new blockchain, there was a massive withdrawal of SHIB on exchanges, which led to increased buying pressure and an increase in the price of the asset.
However, the coin was never able to consolidate its achievements and lost almost all of its growth – on September 11, the price of Shiba Inu fell to its minimum value in the last 3 months of $0.00000706. However, since then, online activity has increased significantly, indicating increased community confidence in SHIB.
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2023-10-07 08:12:00
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