In the last 24 hours, the Shiba Inu (SHIB) community has witnessed a massive explosion by a single whale. by transfer shaken. This whale, which moved 4.2 trillion SHIB tokens, caused a huge wave of speculation in the crypto world and sparked intense debate about the future of the project. Shiba Inu is accustomed to large whale transfers, which have also been seen in other cryptocurrencies of its kind, but this time the amount represents one of the largest transfers ever recorded.
🚨 🚨 4,262,142,892,684 #SHIB (43,896,875 USD) transferred from unknown wallet to unknown wallethttps://t.co/8Dtm2WYTvB
NEWS CONTINUES BELOW— Whale Alert (@whale_alert) December 17, 2023
Although the sender and recipient of the transfer are not exactly known, data obtained from Etherscan shows that the sender has a total of 4 recorded transactions. The first transaction was made approximately 17 hours ago.
On the other hand, according to Etherscan data, the recipient address of 4.2 trillion SHIB is an untouched wallet where no transactions are made. Interestingly, the wallet still retains the SHIB it received, but at a relatively lower value. The reason for this is the price decrease experienced by SHIB.
The popular meme coin is trading at $0.000009956, down 7% compared to the previous day.
Possible Reason for Shiba Inu Transfer
Many theories have been put forward about the reasons behind the transfer of this huge amount. However, although there is no official statement yet, there is focus among the crypto community and analysts on some key clarifications.
One possibility is that the whale intended to make this large transfer by hiding his assets in his own wallet or by discreetly redistributing SHIB tokens to other wallets. Bulk stashing of crypto assets can often be viewed as a strategy to avoid speculation and market fluctuations.
Another possibility is that there may be a possibility of sale, although the chance of realization is low. The chances of this happening are low because the wallets are not directly connected to an exchange.
However, it doesn’t look like the mysteries behind this big transfer have been fully solved until the true motivation is determined. It seems that the Shiba Inu community and crypto enthusiasts will continue to look for more clues about the evolution of the project, keeping a close eye on what impact this event will have on the market and future developments.
You can follow the current price movement here.
Source : the crypto basic