An unknown crypto whale is suddenly moving trillions of Shiba Inu (SHIB) tokens as the top memecoin dipped this week.
Blockchain-tracking service Whale Alert notices that a deep-pocketed entity moved a total of 4,000,379,151,023 SHIB worth $31.7 million from Shiba Staking to the top global crypto exchange Binance.
Shiba Inu was trading for about $0.00000792 at the time of the transaction, down from its seven-day high of $0.00000872.
SHIB is worth $0.00000735 at time of writing, a 6.73% decline during the last 24 hours.
According to IntoTheBlock, 89% of SHIB holders are sitting on losses, just 3% are profitable and 8% are breaking even.
The leading blockchain analytics firm also shows that 69% of Shib Inu holders have held onto the memecoin for more than a year, 28% for a year or less and 3% for less than one month.
Shiba Inu’s highly anticipated new layer-2 project Shibarium continues to gain in popularity as new users increasingly experiment with its testnet. Shibarium is the Shiba Inu ecosystem’s new layer-2 protocol built on top of Ethereum (ETH), similar to Polygon (MATIC).
According to blockchain explorer PuppyScan.Shib, Shibarium’s beta version has 16.7 million wallet addresses using Shibarium and is currently experiencing 536,181 daily transactions.
The popular dog-themed meme asset recently released a trailer for its much anticipated Rocket Pond land-based metaverse.
The SHIB developers also unveiled The Game Builder, one of the metaverse’s key functions.
“This tool is powerful because it not only allows users to create spaces for leisure and fun but also provides a complete platform for landowners to generate business models or activities that can be monetized.”
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/AvDi/WindAwake
The post Shiba Inu Whale Abruptly Moves 4,000,379,151,023 SHIB in Massive Transaction – Here’s Where the Crypto Is Going appeared first on The Daily Hodl.
