As a seasoned crypto investor with over a decade of experience under my belt, I must admit that the recent withdrawal of billions of Shiba Inu tokens from Coinbase has piqued my interest. While I’ve seen some wild fluctuations in the market before, this move by an anonymous whale using the address “0x12F72” is certainly intriguing.
Over the last 24 hours, a significant amount of Shiba Inu (SHIB) tokens have been withdrawn from the foremost U.S. cryptocurrency exchange, Coinbase.
As a researcher, I’ve recently uncovered some intriguing data. A mystery whale, identified by the address “0x12F72”, is reportedly responsible for withdrawing an astounding 105.866 billion SHIB from Coinbase over the past 13 hours. At present exchange rates, this equates to approximately $1.99 million.
Three transfers took place, initiating with a removal of approximately $253,330 worth of 13.29 billion SHIB from the Coinbase hot wallet. This was then followed by four withdrawals of similar size, emptying the leading U.S. exchange of 67.257 billion Shiba Inu tokens. The most recent transfer, which occurred a short while ago, was made by an unidentified large investor or ‘whale’.
A fresh, unidentified significant entity manages an address that hasn’t been spotted in previous on-chain records.
Shiba Inu (SHIB): Price outlook
As an analyst, I can’t definitively identify who the significant purchaser of Shiba Inu tokens could be, nor can I confirm if this wallet is associated with a cryptocurrency exchange. However, the substantial investment in this popular meme-based crypto suggests that someone with considerable financial resources is undeniably optimistic about its future prospects.
The surprising withdrawals of SHIB tokens have left a significant impact on major U.S. exchanges, particularly with the token’s intriguing price fluctuations. After staying within a narrow band of $0.000019 to $0.0000175 for an entire week, the price of this meme-inspired token suddenly surged today, reaching a peak of approximately $0.00001933.
Even though the pump (or rapid increase) in the price of the asset was quickly sold off within an hour, it created a significant room for further growth (or “wick” to the upside), demonstrating to traders that there are still eager buyers ready to purchase at even higher prices.
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2024-10-18 19:13