Shiba Inu A new whale wallet emerged among (SHIB) holders after receiving 417 billion tokens worth $4.4 million.
SHIB’s price may still be a long way from its all-time high. Still, many high-profile investors remain interested in the token, as evidenced by increasing whale transactions.
In recent weeks, Shiba Inu has also had its share of these whale movements and finally a new wallet has emerged.
On-chain data shows that the new address with the initials 0x75095 has received 417 billion tokens (worth about $4.4 million). Although the identity of the address holder is unknown, further investigation indicates that a corporate entity is behind the transfer.
Specifically, the sending address SHIB received 0.018 ETH (about $38) from an address associated with Coinbase Prime in the hour before sending. After the SHIB transfer, the wallet also transferred its ETH balance back to Coinbase Prime.
Coinbase Prime, popular cryptocurrency The exchange is an institutional-focused arm of Coinbase. This relationship with Coinbase Prime triggered speculation that the large SHIB transfer may have involved Coinbase itself or one of its institutional clients.
Shiba Inu Whale Operations on the Rise
Koinfinans.com As we reported, the latest whale transfer involving Shiba Inu (SHIB) joins the token’s rapidly growing list of major movements. Notably, it reported several such transfers earlier this week, including a transfer of SHIB 4.12 trillion.
While these large moves have not necessarily translated into higher SHIB prices, they can provide another indicator. Major players are still interested in the blockchain project, and in light of recent developments, a future increase may not be completely ruled out.
Meanwhile, SHIB is trading around $0.00001055 at the time of writing. The latest price means it brings its current streak of consecutive days above the $0.00001 mark to eleven.
Source : The Crypto Basic