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Crypto Whales Shift Trillions of Shiba Inu Tokens

SHIB
2.57%
ETH
1.99%

First Impressions

“These sudden whale movements are substantial enough to make waves in the market”

Crypto whales are at it again. This time, they're focusing their energies on Shiba Inu tokens.

Whale Alert, the blockchain watchdog, reports that a high-value trader recently shifted nearly 4.5 trillion Shiba Inu tokens.

This transaction is not small potatoes; we're talking about a value of just under $36 million.

‘Crypto whales’ are individuals or entities owning a substantial amount of a cryptocurrency, enough to make waves in the market.

In this case, a whale shifted these tokens from one anonymous digital wallet to another.

At the moment, the value of a single Shiba Inu token is $0.0000077.

Image: Kraken

Yes, you read that right; it's a number most calculators would struggle to display.

That’s Not All, Nearly $270 Million Worth of Ethereum Were Shifted

Meanwhile, in the same breath, another whale decided to dabble in Ethereum.

Approximately 150,000 Ethereum tokens were shifted from an anonymous wallet to the Kraken crypto exchange.

The total value here? Nearly $270 million.

Its tokens are currently valued at $1,803 each.

For now, the reasons behind these massive moves are shrouded in mystery. Speculations abound, but nothing is concrete.

In this unpredictable world of cryptocurrencies, the only constant is change.

And these whales? Well, they're the orchestrators of that change, whether we like it or not.

Disclaimer

Coinlive is dedicated to delivering impartial, clear-cut journalism. While this article strives for timely accuracy, we recommend that readers independently fact-check and seek professional advice before taking any action based on this material.

More news about 鲸鱼 币安 柴犬币

  • May 09, 2024 12:04 am
    Shiba Inu Community Anticipates Launch of Shiba Eternity Play-to-Earn Game
    According to U.Today, the Shiba Inu community is eagerly awaiting the launch of Shiba Eternity, a collectible card game. Lucie, a member of the Shiba Inu team, recently hinted at what players can expect from the game. The Play-to-Earn (P2E) game will be hosted on Shibarium, and players can earn TREAT tokens for participating. Each transaction within the game will utilize BONE and burn a small amount of SHIB. However, Lucie has reminded the community that the game has not yet been launched. To earn in the P2E game, players will need Shiboshis and SHEB, both associated with Sheboshis. These elements will also play a role in future breeding, which could potentially result in the creation of new puppies, possibly DN404. Lucie also mentioned that more updates are on the way for Sheboshis, but did not provide further details. The Shiba Inu Games team has been consistently improving Shiba Eternity, making changes based on community feedback and performance metrics. Over the past month, the game has seen updates aimed at enhancing its social and combat features, as well as overall game stability. One such update, version 1.2.6, added a leash to the Rampage ability, introducing a strategic delay that players must manage. In April, the team released another significant upgrade for Shiba Eternity. The latest version, 1.2.7, includes major enhancements designed to boost player interaction and strategic depth. This update emphasizes strengthening social connections among players and expanding the strategic aspects of gameplay. Amid these improvements, anticipation is building for the Play-to-Earn version of Shiba Eternity, with the team hinting at progress in this area.
  • May 06, 2024 5:59 pm
    Shiba Inu Tokens Experience Significant Burn Rate Increase
    According to U.Today, Shiba Inu (SHIB) tokens are experiencing a significant increase in their burn rate, with over 81 million tokens being sent to dead wallets. The burn rate has risen by 4,085.94% in the past 24 hours, according to data from the Shiba Inu burn tracker, Shibburn. Every Shiba Inu token sent to the burn address is designed to contribute to the overall number of SHIB taken out of circulation. The recent burning of Shiba Inu tokens has pushed the total number of incinerated tokens to 410,726,232,655,518 SHIB, leaving approximately 589,273,767,344,481 SHIB in circulation. However, the value of the 81,649,878 SHIB burnt, which is roughly $2,039, is not enough to significantly impact the price of the underlying token. Despite this, the increase in the Shiba Inu burn rate is seen as a positive sign by community members, as it indicates a renewed optimism and confidence in the future of the token. The ultimate goal of the Shiba Inu burn campaign is to reduce the supply to a level where price discovery can occur. Supporters of Shiba Inu are aiming for a long-term price of one cent, a price level that is currently economically unfeasible given the existing supply rate. In the meantime, the core team behind Shiba Inu, led by Shytoshi Kusama, is introducing new utilities that can drive demand. One such example is the launch of the Shibarium hard fork, which is expected to drive adoption through enhanced protocol versatility. At the time of writing, the price of SHIB had increased by 0.55% in 24 hours to $0.00002498.
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  • May 01, 2024 9:49 pm
    Shiba Inu Outperforms Dogecoin and PEPE in Whale Activity
    According to U.Today, Shiba Inu, a popular meme coin, has seen a significant increase in whale transaction volume, outpacing its main competitors, Dogecoin (DOGE) and PEPE. Despite a general decrease in the price of these three meme coins, other performance metrics are showing signs of recovery. Data from the crypto analytics platform IntoTheBlock (ITB) reveals that Shiba Inu's whale transaction volume has surged by a staggering 268.26%. These large transactions, valued at over $100,000, amounted to $98.12 million in 24 hours. In contrast, Dogecoin's whale transactions increased by only 13.29% overnight, reaching $966.35 million. PEPE, a frog-themed meme coin, saw an 11.16% increase in large transactions, with about $11.12 million worth traded. The competition for dominance among these coins is influenced by more than just the number of whale transactions. The Shiba Inu ecosystem has experienced a relatively smaller decrease in the number of its daily active wallets compared to Dogecoin or PEPE. Currently, DOGE is the most capitalized of the three, but Shiba Inu is steadily catching up. Shiba Inu is not only thriving as a meme coin but also expanding its network reach with a layer-3 scaling solution. This new layer-3 chain, called Shibarium, will be introduced through a major hard fork upgrade in the coming month. The Shiba Inu team has been working diligently to provide more value to its community. They have entered into significant partnerships with market outfits like D3 to introduce products that can help drive demand for SHIB and its underlying utility. The short-term goal is to propel Shiba Inu into the top 10 by increasing its price from its current level of $0.00002208.
  • Apr 27, 2024 8:30 pm
    Shiba Inu Token Sees Significant Drop in Whale Activity
    According to U.Today, the Shiba Inu token (SHIB) has experienced a significant decrease in the activity of its major players, often referred to as 'whales' in the cryptocurrency world. Key metrics reveal a substantial drop in the volume of large transactions of the popular meme cryptocurrency. Over the past 24 hours, the volume of these transactions fell by 42.86% to 3.56 trillion SHIB. This decline translates to a drop in transactions of a minimum size of $100,000 from $162.45 million to $91.87 million. During this period, there were 201 such transactions. The decrease in the activity of Shiba Inu whales is also reflected in the reduction of inflows and outflows to wallets that hold at least 0.1% of the circulating supply of the meme cryptocurrency. According to the Large Holders Inflow indicator, inflows to wallets of this scale decreased seven times overnight, reaching a value of only 501.2 billion SHIB. Similarly, outflows fell to 499.54 billion SHIB, marking an 86% decrease from the previous day. This drop in the activity of major SHIB players coincides with a less than inspiring price action of the second largest meme cryptocurrency. The price of the Shiba Inu token has printed the fourth lower high on the daily chart following the March price pump of almost 400%. This trend does not suggest a repeat of the successes of a month ago in the near future, at least until the price of the Shiba Inu token surpasses not only the March high but also the previous one, which was in early April. The decline in whale activity further supports this outlook, given that their actions play a crucial role in this cycle of liquidity and trend shifts.
  • Apr 21, 2024 4:26 pm
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    According to U.Today, a significant increase in the movement of SHIB tokens has been observed in the last 24 hours, with a total of 4.34 trillion SHIB tokens changing hands. This represents a substantial rise in large transactions within the Shiba Inu ecosystem, leading to speculation and anticipation. Recent data indicates a 215% increase in whale activity, with inflows of 4.34 trillion SHIB on April 19, a significant rise from 565.55 billion SHIB on April 17. The Shiba Inu ecosystem is also experiencing an increase in the volume of large transactions, those worth more than $100,000, which is up by 58.48%. This surge is primarily due to an increase in the accumulation of SHIB tokens by large holders, known as whales, who have significantly increased their stakes in the cryptocurrency. The inflow of 4.34 trillion SHIB tokens might suggest a concerted effort by whales to bolster their positions in anticipation of future price movements or strategic maneuvers within the market. The exact motives behind the surge in whale activity remain speculative, but several factors may have contributed to this phenomenon. These could include market trends, upcoming developments within the Shiba Inu ecosystem, or favorable use cases. The recent volatility and price fluctuations in the cryptocurrency market may have prompted whales to increase their exposure to SHIB tokens in pursuit of potential gains. At the time of writing, SHIB was down 1.18% in the last 24 hours to $0.0000227. With a market capitalization of $13.42 billion, SHIB sits in the 11th spot of the crypto rankings, with a seeming readiness to reenter the top 10. The cryptocurrency community is closely monitoring the actions of Shiba Inu whales. Whether this inflow spike will lead to a sustained increase in SHIB's value or merely a temporary fluctuation remains to be seen. However, one thing is certain: The movement of 4.34 trillion SHIB has put attention on Shiba Inu.
  • Apr 17, 2024 2:25 am
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  • Sep 13, 2023 5:59 pm
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More news about 鲸鱼 币安 柴犬币

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