Last updated on May 18th, 2024 at 11:57 am
A new report shows that billions of SHIB tokens have been moved from major crypto exchanges by some whales amid the general crypto market rise. These events come shortly after new Shibarium updates were announced by co-founder Shytoshi Kusama.
In a recent update by Arkham – a blockchain deanonymizing platform, nearly 5 billion SHIB tokens (4.7 Billion SHIB) were transferred from addresses linked to top cryptocurrency exchanges.
Meanwhile, data from CoinMarketCap shows that SHIB joined the global crypto market in recovery as it has increased by 7.28% in the last 24 hours. The price surge can also be attributed to a recent ruling in the lawsuit between Ripple and the Security and Exchange Commission. The verdict by the Judge states that XRP is not a security.
Source: CoinMarketCap
About 4.7 billion SHIB withdrawn from top crypto exchanges
According to data from Arkham, 261 million SHIB tokens were moved from Coinbase to an unknown wallet. Similarly, a wallet address linked to Binance withdrew about 70 million SHIB tokens. Also, transactions from one unknown wallet to another unknown address were recorded moving 155 million SHIB.
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In addition, 146 million Shiba Inu coins were transferred from BtcTurk to an anonymous wallet. A significant transaction from the decentralized exchange Uniswap to an unknown wallet was also recorded moving a total of 1.405 billion SHIB. 1.44 billion SHIB were transferred by Bitso – a Mexica-based crypto exchange. Finally, a total of 1.064 billion SHIB tokens were sent to KuCoin.
Related Reading: BitGo Resumes XRP Trading on its Platform
Shiba Inu has a new website
In other news, Shiba Inu co-founder known by the pseudonym Shytoshi Kusama announced on his official Twitter page on June 13 the new branding for the Shiba Inu official website shib.io.
Shiba Inu’s major projects including SHIB Metaverse, Shibcals, Shiba Eternity, and ShibaSwap DEX have been rebranded with the website. Furthermore, the SHIB Worldpaper that was initially promised has also been included in the rebranded website for users to read.
As the #summerofshibarium continues we are proud to introduce new branding for https://t.co/vRofmNPr53 and other #SHIBARMY websites! Give it a look! #WOOF pic.twitter.com/TY7x5hlDS5
— Shytoshi Kusama™ (@ShytoshiKusama) July 13, 2023
Shiba Inu (SHIB) price today
According to live data from CoinMarketCap, the price of SHIB today is $0.000008. The price is up 7.28% in the last 24 hours. What’s more, Shiba Inu is one of the most popular meme coins in the market and is ranked #17 on the global crypto market chart. Finally, it has a live market cap of $4.8 billion.
Victor Swaezy
Victor Swaezy is a crypto-journalist with more than 3 years of experience in covering blockchain technology and digital currencies news. Known for his comprehensive reporting, Victor has contributed to leading industry publications such as Coinfomania and Crypto News Guru, providing market participants with the required knowledge to make informed decisions. When he is not working, he loves to watch movies and have a good time.