A Whopping Transfer in SHIB! What Does It Mean for Shiba Inu Investors? - COINTURK NEWS
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A Whopping Transfer in SHIB! What Does It Mean for Shiba Inu Investors?

1:03 am (60 days ago)
October 6, 2023

A Shiba Inu (SHIB) investor with a significant accumulation made a transfer of trillions of SHIB tokens from a Dutch-based crypto exchange platform. Here are the details of this massive transfer!

Huge Transfer in SHIB!

New data obtained from the whale research platform, Whale Alert, reveals that a Shiba Inu whale transferred approximately 4,584,530,677,374 SHIB, worth around $33 million, to an unknown wallet from Bitvavo.

According to the Ethereum blockchain tracking platform, Etherscan, the transfer took place in the early hours of October 5. The movement of SHIB occurred a week after the Shiba Inu development team advised investors to be cautious of suspicious users claiming to be part of the SHIB ecosystem and encouraging them to conduct their own research.

Furthermore, during the mentioned period, the SHIB team clarified that the use of the name “Shibarium” by someone or a token does not imply any association with the recently launched Layer-2 scaling solution of the project.

Shiba Inu Announcement

According to the SHIB team, all official partnerships will be announced through the ecosystem’s Discord channel or official blog. In early September, the SHIB ecosystem experienced rapid growth following the highly anticipated launch of Shibarium, leading to an increase in staking of Bone ShibaSwap, the cryptocurrency used to pay gas fees for Layer-2.

Data from the SHIB blockchain tracker, Shibariumscan, during the mentioned period revealed that the total number of transactions on Shibarium exceeded 2.5 million. Data from the Layer-2 scaling solution showed that over 27 million BONE tokens were staked. SHIB is currently trading at $0.000007, while BONE is at $0.795.

In conclusion, the SHIB whale transferred billions of SHIB worth $33 million from a Dutch-based crypto exchange to another wallet. This significant transfer occurred right after the Shiba Inu team’s warning that official announcements would only be made through specific platforms.

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