Shiba Inu Whale Abruptly Moves 4,560,030,677,374 in SHIB – Here’s Where the Crypto’s Headed

On-chain data shows a crypto whale just moved a massive amount of the memecoin Shiba Inu (SHIB).

According to the crypto whale-watching service Whale Alert, an Ethereum (ETH) address suddenly moved 4.56 trillion SHIB tokens worth about $31.41 million to a new address earlier today.

According to blockchain analytics firm Arkham Intelligence, the address that initiated the transfer is associated with Coinbase Prime, Coinbase’s platform that caters to institutional investors and provides services like over-the-counter (OTC) trading and cold storage.

The address that received the tokens appears to be newly created, according to Etherscan data.

According to Shibariumscan, the block explorer of Shiba Inu’s layer-2 blockchain, Shibarium has reached 1,255,181 wallets and has completed 3,524,173 transactions since its inception.

After the new chain cracked the 1 million wallet milestone last month, Shibarium developer Kaal Dhairya said that the project team was preparing a promotional campaign for new projects being built on the chain.

“We have achieved – and aim to maintain – our status as one of the fastest and cheapest layer-2 networks out there. (I also read somewhere that some people are unhappy that the gas prices are very low in the network, which made me chuckle)…

Please use the explorer to DYOR (Do Your Own Research) and also to verify any new or existing contracts deployed to the network. Soon, we will begin promoting projects that are built on top of Shibarium. We won’t be able to do this if your contracts aren’t verified. Thus, please make sure to use the Blockscout contract verification system.”

Generated Image: Midjourney