Binance Sends 1.6 Trillion Shiba Inu to Unknown Wallet Within 10 Mins

The exchange transferred all the tokens in four different transactions today between 16:34 and 16:44 (UTC).

A Binance-affiliated address recently transferred a whopping 1.62 trillion Shiba Inu (SHIB) tokens to an unidentified wallet today within ten minutes. The development comes as SHIB appreciates by 12% in the past 24 hours, putting it on the list of top gainers among the 20 largest tokens by market cap.

The SHIB tokens transferred by Binance were sent in four different transactions in the space of ten minutes, with three of these transactions highlighted by Whale Alert. The first transaction, which occurred today at 16:34 (UTC), involved the transfer of 499,999,668,400 (499.9M) SHIB worth $6.4 million to an unidentified wallet. 

The second and fourth transactions involved the exact same amount of SHIB tokens as the first transaction, which has so far raised questions among proponents. However, the third transaction involved 126.1 billion SHIB valued at $1.6 million. All funds were sent to the same unidentified wallet from two different Binance-affiliated addresses. The unknown wallet now holds over 1.6 trillion SHIB worth $20.9 million.

Shiba Inu has been registering some massive fund flows involving large whales of late in a pattern that spilled from last year. Last month, a new whale was reported to have amassed over 3 trillion tokens at once. Shortly after that, one of the top ETH whales cupped up to 120 billion SHIB tokens. 

Shiba Inu Developments and Price Movements

Meanwhile, the latest movement from Binance comes at a time when Shiba Inu has gained by 12.24% in the past 24 hours. The asset has attained the value at $0.00001286 for the first time since January 18, currently changing hands at the price territory as of press time.

At the current price, the asset has conquered the fierce resistance point at $0.00001286 and is seeking new highs. SHIB Knight, a Shiba Inu analyst, asserted that the asset currently has its eyes set on the next target at $0.00001330 which would serve as a launchpad to the high of $0.00001372.

$SHIB is heading for the next target!

Let’s go, let’s go! 🔥🚀 pic.twitter.com/37LEjPaYC2

— $SHIB KNIGHT (@army_shiba) February 2, 2023

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SHIB’s recent rally has been triggered by both the market-wide uptrend and several favorable developments within the SHIB community, including persistent burns and an increased adoption rate. FCF Pay disclosed today that SHIB payments with its debit cards hit a new ATH. Moreover, the hype around Shibarium has also attracted investors.

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