Large Amount of This Altcoin Transferred to Binance! Is the Fall Coming?

According to data from Dune Analytics and on-chain cryptocurrency data tracking system Whale Alert, the world’s largest cryptocurrency exchange to Binance 1.8 trillion Shiba Inu (SHIB) transferred.

A recent transfer, Singapore-based cryptocurrency exchange Crypto.comIt was made to a Binance wallet from wallets thought to belong to .

🚨 900,000,000,000 #SHIB (8,278,380 USD) transferred from #CryptoCom to #Binancehttps://t.co/TSY39bfCxd

— Whale Alert (@whale_alert) November 29, 2022

Sending over 1.8 trillion ($16 million worth) of SHIB tokens from Binance wallet, glassnode also confirmed by

Glassnode has given Binance 1.8 trillion, the highest single-day number since February 28. SHIB He stated that he had an entrance.

The SHIB transfers in question are from an address thought to belong to Crypto .com, 900 billion each. SHIB carried out with two procedures performed five minutes apart.

The realization of transfers in these amounts cryptocurrency increased speculations about a price drop in the community.

Transferring large amounts of a cryptocurrency to an exchange is often seen as the start of a sale.

Another name that draws attention to these transactions is the on-chain researcher. lookonchain it happened.
Lookonchain said in his post:

“Crypto. com transferred 1.8 trillion SHIB to Binance.

According to previous analysis Crypto. com holds 58 trillion ($531 million) SHIB, about 20% of total assets. So is he going to sell some of his SHIBs now? “

1 hour ago, https://t.co/INIxikglp6 transferred 1.8T $SHIB($16M) to #Binance.

According to previous analysis, https://t.co/INIxikglp6 holds 58T $SHIB($531M), accounting for nearly 20% of total assets.

So now he is going to sell part of $SHIB?https://t.co/FmCqwE2A4e pic.twitter.com/TLgPbc5t0N

— Lookonchain (@lookonchain) November 29, 2022