Shiba

bullish

Shiba Inu

Trillion

A significant transfer of Shiba Inu (SHIB) tokens has captured the attention of the cryptocurrency community. Amid a market correction, a single transaction worth $99 million involving 4 trillion SHIB tokens has raised questions among investors about its implications. 
<h2 id="b-details-of-the-whale-transaction-b">Details of the Whale Transaction</h2> 
The transaction, first <a href="https://x.com/whale_alert/status/1857163089914781778">highlighted by Whale Alert</a>, saw a large amount of SHIB moved from one wallet to another. Specifically, the wallet identified as “<a href="https://etherscan.io/address/0x422193843fe209faa94f5cc1780e04965e77cb7f">0x42219</a>” transferred 4 trillion SHIB to a new address, “<a href="https://etherscan.io/address/0x633be8a369d2f5696456a7748439bbbb96bf60e2#tokentxns">0x633be</a>,” on November 14 at 20:45 UTC. 
At the time of the transfer, the tokens were valued at approximately $99 million, calculated at an average price of $0.00002475 per SHIB. 
The sending wallet, a known SHIB whale, holds more than 7 trillion SHIB tokens, representing 0.7302% of the cryptocurrency’s total supply. This makes it the ninth-largest holder of <a href="https://timestabloid.com/shiba-inu-shib-road-to-100-billion-market-cap/">Shiba Inu </a>tokens. 
Meanwhile, the receiving wallet appears new, with the transfer of 4 trillion SHIB being its second transaction recorded. Earlier that day, at 13:55 UTC, the same sending wallet initiated a test transaction of 100,000 SHIB, worth $2.37 only at the time. 
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Subsequent analysis revealed that the recipient wallet still holds the 4 trillion SHIB tokens and the earlier test transfer, bringing its total holdings to 4,000,000,100,000 SHIB, now valued at $94.7 million. This suggests that the movement may have been a fund shuffle with no immediate market impact. 
<h2 id="b-bitgo-connection-confirms-internal-transfer-b">BitGo Connection Confirms Internal Transfer</h2> 
Upon a closer inspection by Times Tabloid, it was discovered that both the sending and receiving wallets belong to the crypto exchange BitGo. This finding confirms that the large-scale movement of SHIB tokens was likely an internal transfer, potentially for operational purposes, rather than a signal of any market-moving activity. 
<h2 id="b-shiba-inu-market-performance-amid-consolidation-b">Shiba Inu Market Performance Amid Consolidation</h2> 
The whale transaction coincided with a period of market consolidation for Shiba Inu following a recent bullish rally. Over the past 24 hours, SHIB has experienced a 7.55% decline, trading at $0.00002418 as of this writing. 
Despite this drop, the token remains up by 27.49% over the past week, buoyed by a price increase from $0.00001926 earlier in the week to a high of $0.00002943 on November 12. 
Amid the market correction, optimism remains within the <a href="https://timestabloid.com/shiba-inu-lead-dev-its-time-we-showcased-shib-power/">Shiba Inu community.</a> The project’s marketing lead, Lucie, recently <a href="https://x.com/LucieSHIB/status/1855943806455091239">suggested</a> that SHIB could target $0.00006861 in its next upward move. Achieving this price would represent a 183% increase from its current level of $0.00002418. 
While the whale activity raised initial concerns among investors, confirmation of its internal nature has mitigated fears of a sell-off. The Shiba Inu market continues to navigate its consolidation phase, watching broader market conditions and potential catalysts that could reignite bullish momentum. 
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The post <a href="https://timestabloid.com/4-trillion-shib-at-once-heres-what-happened/">4 Trillion SHIB At Once. Here’s What Happened</a> appeared first on <a href="https://timestabloid.com">Times Tabloid</a>.

4 Trillion SHIB At Once. Here’s What Happened

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