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.
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 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.
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