Over the last hour, I’ve noticed an intriguing transfer of Shiba Inu (SHIB) tokens. According to data from Whale Alert, a staggering 818.46 billion SHIB were shifted from the leading Singaporean crypto exchange, Crypto.com. What makes this transaction stand out is that the funds were sent to wallets operating anonymously.
Big Shiba Inu buyup
In review, the Shiba Inu transactions revealed a total value of 1,636,940,000,000 SHIB, equivalent to $39,038,563, were shifted to unidentified wallets from Crypto.com. The remaining four transactions displayed comparable transaction sizes, but the amount transferred decreased slightly in each subsequent instance.
🚨 🚨 1,636,940,000,000 #SHIB (39,038,563 USD) transferred from #CryptoCom to unknown wallet
— Whale Alert (@whale_alert) January 7, 2025
In an ideal scenario, when data is released from interactions such as this, it frequently indicates accumulation, which can be a trend that suggests a potential price increase in the near future. Interestingly, these recent Shiba Inu transaction patterns originate from Crypto.com, a trading platform that is not commonly associated with the Shiba Inu community.
It might seem unusual to some that these accumulations are happening now, given the recent surge in the price of Shiba Inu. At this moment, a Shiba Inu coin is being traded for approximately $0.00002377, representing a 2.2% increase over the past day. Additionally, trading volume has also seen an upward trend.
Betting on a coin while its price is rising shows a high level of conviction in the token’s positive future outlook.
Collective SHIB whales validation
Additionally, large transactions (or whale activities) and significant trades are also noticeable on other leading platforms such as Binance, aside from CryptoCom, for the Shiba Inu cryptocurrency.
Currently, the focus stays on the meme currency as its volatility shapes the speed at which leading investments expand. Interestingly, Shiba Inu is still holding onto its position as the second-largest coin by market cap, boasting a valuation of around $14.16 billion.
Based on the progress it’s making in its ecosystem, experts predict a promising future for SHIB, possibly leading to further growth.
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2025-01-07 19:27