Shiba Inu whales making big moves while its price is down
The total crypto market cap has been witnessing uncertain movements over the last 24 hours — moving up and down — shiba inu (SHIB) whales have been busy transferring vast amounts of the asset.
According to data provided by Arkham Intelligence, over 6 trillion SHIB tokens have been allegedly moved between two Coinbase addresses in seconds. The interesting part is that the crypto exchange supposedly did not send the coins directly between its accounts and had the tokens go through an unknown wallet.
Moreover, two transactions, each consisting of 1.92 trillion SHIB, were processed through the address “0xc4277a…cd3665d5.” The address mentioned does not hold almost any assets after transferring the coins, allegedly back to another Coinbase address. Its total holdings are worth only $0.67 after it.
Similarly, the remaining 2.24 trillion SHIB were sent through the address “0x425900…7bf3D0ae.” Per the data, the total amount of the transactions is worth over $65 million at the time of writing.
SHIB is currently trading at $0.0000108, down by around 4% in the past 24 hours per crypto.news data.
The movements come as the Shibarium beta wallets surpassed the 100,000 mark on March 30.