Shiba Inu Whale Accumulates 546 Billion SHIB from Binance
Shiba Inu, a popular meme coin, gained significant attention in the crypto market after a large amount of SHIB was moved by a whale. This caught the interest of traders and investors, especially considering the recent price slump. While the overall crypto market experienced a downturn due to Bitcoin ETF approval, Shiba Inu stood out with its whale activity.
SHIB Withdrawals from Binance: Report
Data from Lookonchain, an on-chain insights platform, revealed that a new wallet address withdrew 546.34 billion SHIB from Binance. This amounted to $4.92 million at the time of writing. The wallet address made two transactions, withdrawing 400 billion SHIB in the first transaction and 146.34 SHIB in the second.
Despite the negative performance of the broader crypto market, the significant accumulation of SHIB has generated considerable interest.
Shiba Inu Price Tumbles
The price of Shiba Inu has dropped by 4.37% in the past 24 hours and is currently trading at $0.000009086. It has also experienced weekly and monthly drops of 12.80% and 9.65% respectively. However, with the recent whale activity, market sentiment towards Shiba Inu has become more optimistic. Traders expect increased confidence in the token, which could potentially fuel its market run.
Hot Take: Shiba Inu Whale Activity Sparks Interest in Market
The substantial movement of SHIB by a whale has sparked curiosity and excitement among traders and investors in the crypto market. Despite the overall downturn in the crypto market, Shiba Inu stands out with its whale chronicle, attracting attention and fueling optimism for the future of the token. With wallet accumulations on the rise, there is a sense of boosted confidence, indicating a potential bull run ahead for Shiba Inu.
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