Large transactions for the altcoin Shiba Inu (SHIB), which attracts the attention of many users in Turkey, draws attention. Looking at the on-chain data, it was revealed that three mysterious wallet addresses transferred a large amount of SHIB to an address related to Coinbase. Here are the details…
Large accounts handle altcoin transfers
Etherscan.io data revealed that three mystery wallets transferred 6.08 trillion SHIB worth $65.44 million to a Coinbase-related wallet labeled “Coinbase 10”. The transfers happened simultaneously a few days ago, and all three wallets currently have zero SHIB left. The first wallet, 0xc4277a53cCB2470e24C2Faa5C34b0449cd3665d5, transferred 1.92 trillion SHIB worth $20.64 million to Coinbase 10.
Famous Blockchain data monitoring platform WhaleAlert confirmed this transaction. Shortly after, the second wallet, 0x425900315868920d348D50d32986b9857bf3D0ae, moved an even larger amount of 2.24 trillion SHIB worth $24.15 million to Coinbase 10. WhaleAlert noticed this process as well.
Finally, the third wallet numbered 0x30045D596C8cc947560bd003aB04b76E2E0D0BB4 has completed the series of major transfers by transferring 1.92 trillion SHIB worth $20.64 million to Coinbase 10. The reasons for these transactions are unknown and the identity of the wallet holders remains a mystery. However, these large transfers caused the price of the Shiba Inu to plummet, and the dog-themed cryptocurrency fell 4.52 percent to trade at $0.00001074 in the past day. The 24-hour trading volume is at $225.41 million.
Record increase in SHIB network
Meanwhile, the Shiba Inu has seen a record increase in network activity since the start of the year. According to analyst Ali Martinez, citing Santiment’s data, the number of active addresses interacting on the SHIB network reached nearly 36,000 in late March 2023. Within a year, the Shiba Inu cryptocurrency experienced a significant increase in daily active addresses, with 35,788 different SHIB addresses interacting on the network, marking the highest increase to date. This increase is mainly attributed to the success of Shibarium Public Beta Testnet Puppynet, which has surpassed 200,000 wallet addresses and processed more than 1 million transactions in just one week since its launch.
According to some, the growing community of Shiba Inu owners and investors may push the price higher. On the other hand, cryptocoin.com As we have reported, Shiba Inu’s Metaverse WAGMI Hub, which debuted at this year’s SXSW festival, recently caught the attention of American business magazine Forbes. The popular project was mentioned in a recent tech article for its innovative approach to Metaverse. Time will tell how SHIB will act in the coming period. It is worth noting that the coin is mostly affected by the general market movement.
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For the continuation of the article, the Most Bought Altcoin by Turks is Discharged to Coinbase!