A mysterious crypto whale is suddenly shifting trillions of Shiba Inu (SHIB) tokens as the top meme coin witnesses explosive price action over the past day.
Blockchain-tracking service Whale Alert reveals that a deep-pocketed entity moved a total of 1,999,998,709,228 SHIB worth $24.20 million from a popular crypto exchange to one unknown wallet in four separate transfers.
The transactions were made in a span of five minutes, suggesting that a single entity controlled that massive SHIB trove.
- 499,999,677,307 SHIB worth $6.05 million transferred from Binance to a wallet of unknown origin
- 499,999,677,307 SHIB worth $6.05 million transferred from Binance to a wallet of unknown origin
- 499,999,677,307 SHIB worth $6.05 million transferred from Binance to a wallet of unknown origin
- 499,999,677,307 SHIB worth $6.05 million transferred from Binance to a wallet of unknown origin
All in all, the whale paid a total of $6.51 worth of Ethereum (ETH) in transaction fees for the four transfers.
A closer look at the receiving wallet reveals that the large Shiba Inu trove was sent to a Gnosis Safe smart contract, according to blockchain-tracker Etherscan. Gnosis Safe, which bills itself as a trusted platform to manage crypto assets on the Ethereum blockchain, is a project from prediction market platform Gnosis (GNO). It is possible that the whale relocated his Shiba Inu holdings for security purposes.
The transactions were also made a day before SHIB erupted from a low of $0.00001243 yesterday to a high of $0.00001554 on the same day, representing gains of over 25% in just 24 hours. SHIB has slightly pulled back since and is trading at 0.00001503 at time of writing.
Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inboxCheck Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Voger Design/WindAwake
The post Shiba Inu Whale Abruptly Relocates 1,999,998,709,228 SHIB – Here’s Where the Crypto Is Heading appeared first on The Daily Hodl.
