Crazy 4 Trillion SHIB Change Hands in Mysterious Transfer, Here’s Price Reaction

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As a seasoned researcher with years of experience delving into the dynamic world of cryptocurrencies, I must admit that the latest development involving Shiba Inu (SHIB) has left me both intrigued and puzzled. A single transfer of 4 trillion SHIB, valued at nearly $100 million, anonymously moving from one unknown wallet to another – this is a move that’s hard to ignore in the crypto world.

The blockchain monitoring service known as Whale Alert, which specializes in detecting significant cryptocurrency transactions and broadcasting the information to the public via the X platform, has recently noticed an impressive transfer of the second most popular meme coin, Shiba Inu.

A single transfer detected by this crypto tracker has shoveled several trillion SHIB meme coins.

4 trillion SHIB change hands anonymously

Based on information from a specified blockchain resource, approximately 4 trillion Shiba Inu coins (valued at around $99 million) were transferred from an unidentified blockchain wallet to another yet-unknown wallet, according to data provided by Etherscan.

🚨 🚨 🚨 🚨 4,000,000,000,000 #SHIB (99,005,333 USD) transferred from unknown wallet to unknown wallet

— Whale Alert (@whale_alert) November 14, 2024

It appears that the Shiba Inu community was quite taken aback by such a significant transaction, as evidenced by remarks such as “A big step creating waves in the cryptocurrency ocean” or “What a colossal Shiba Inu move! The crypto sphere never fails to surprise us.

Recent SHIB market performance with golden cross behind

Currently, the well-liked meme-based cryptocurrency is experiencing a change from a downtrend to an uptrend, showing a growth of 6.28%. This rise follows a 23.11% drop the cryptocurrency has encountered since Tuesday.

Previously, on that specific day, the meme coin peaked at a price of $0.00002966 due to an impressive surge of over 55% since November 9, starting from $0.00001904. At the time I am writing this content, SHIB is being traded at $0.00002412.

According to U.Today’s report, earlier in the week, Shiba Inu (SHIB) formed a unique pattern called the Golden Cross. This pattern occurs when a 200-day moving average and a 50-day moving average intersect each other. Historically, this pattern suggests an extended period of significant price increase for an asset. But surprisingly, instead of rising, SHIB dropped by a substantial 16%.

SHIB burns surge 114%

Over the past day, the primary monitor of SHIB burn data has shown an impressive surge of 114.47% in the burn rate for the well-known meme cryptocurrency. This significant increase can be attributed to approximately 16 million SHIB being moved out of circulation by the dedicated community.

Today, there was just one transaction involving burning (permanently removing from circulation) 16.1 million SHIB tokens. This action transferred the tokens to an address where they can no longer be spent. Since its launch, the community has collectively managed to burn a massive amount of 410,737,797,662,375 SHIB tokens. At present, approximately 583,737,687,171,832 SHIB coins are still in circulation within the cryptocurrency market.

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2024-11-15 14:12