A mysterious Shiba Inu (SHIB) whale is suddenly on the move, relocating trillions of tokens as the top memecoin starts to flash signs of life.
Blockchain-monitoring service Whale Alert first spotted the massive Shiba Inu transaction.
According to Whale Alert, the large entity in question shifted 3,484,812,794,902 SHIB worth over $40 million from a wallet of unknown origin to another wallet of unknown origin.
— Whale Alert (@whale_alert) April 16, 2023
The investor with deep pockets paid less than $3 to relocate the large SHIB trove worth tens of millions of dollars.
Blockchain-tracking website Etherscan shows that the SHIB stack remains in the control of the receiving wallet.
Shiba Inu is trading $0.00001147 at time of writing, The top meme crypto asset is up nearly 7% from its seven-day low of $0.00001074.
The large Shiba Inu transaction comes as lead SHIB developer Shytoshi Kusama issues a warning to other crypto projects using his name and large following to promote their own tokens. Kusama also says that market participants should be on the lookout for coins claiming to be the official token of the layer-2 Shibarium project.
“I am not affiliated with any token using my name or likeness unlawfully. DYOR (Do your own research) and don’t get scammed. Likewise there is no (official) Shibarium token; Shibarium is an L2 blockchain so any you see are super [suspicious]. Need I go on SHIB army?”Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
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