Shiba Inu Whales Transfer Billions of SHIB tokens from Top Exchanges

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Shiba Inu Whales Transfer Billions of SHIB tokens from Top Exchanges

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.

Shiba Inu Whales Transfer Billions of SHIB tokens from Top Exchanges

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About 4.7 billion SHIB withdrawn from top crypto exchanges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.

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.

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Victor Nnamdi Igbor "Swaezy" is a crypto enthusiast and writer with over 8 experience in blogging. He is an easy person and when not working, loves to have a good time.