24 Trillion Shiba Inu Moved: Whales Making Big Move?

Shiba Inu (SHIB), with its most recent developments, keeps garnering media attention. According to the latest development, more than 24 trillion SHIB coins were transferred from a cryptocurrency exchange

According to Whalealert, over the last 24 hours, various transactions have moved more than 24 trillion Shiba Inu coins worth $272 million, from the cryptocurrency exchange Crypto.com. Moving 4.1 trillion SHIB tokens worth $45 million to an unidentified wallet was the largest transaction recorded by the tracker. These transactions, however, had no impact whatsoever on the price of Shiba Inu. 

Ethereum whales on a ‘buying spree’?

Ethereum Whales have accumulated more than $600 million worth of SHIB tokens and the top 5000 Ethereum (ETH) whales, according to WhaleStats, currently control more than $600 million in SHIB tokens. The most traded toke” and the largest token position by dollar value are both SHIB tokens. According to WhaleStats, the most widely held token is the Uniswap (UNI) token.

Prior to the release of Shibarium, the number of Ethereum addresses holding SHIB increased over 1.3 million, and users on Coinbase now retain SHIB on average for longer than 230 days before selling it or moving it to another address.

What is ‘Shiba wings’?

According to a recent post from Shib Army, “Shiba Wings, a new restaurant, has opened in Surfers Paradise, Australia. The restaurant is the first of its kind in Australia to accept cryptocurrency as a mode of payment, with a special focus on the Shiba Inu Coin. It was deemed “a great example of decentralization” by Shytoshi Kusama.

Shiba Inu’s price over the previous seven days ranged from a high of $0.00001177 to a low of $0.00001001. Shiba Inu’s price increased by 9% in one week despite falling roughly 18% in one month, according to CoinMarketCap.