A Shiba Inu Whale Transfers Trillions of SHIB out of Bitvavo
A wealthy trader of the cryptocurrency Shiba Inu (SHIB) has recently moved a significant amount of SHIB out of the crypto exchange platform Bitvavo in the Netherlands. According to data from Whale Alert, the whale transferred 4,584,530,677,374 SHIB, equivalent to about $33 million, into an unknown wallet.
Transfer Occurred on October 5th
The transfer was recorded on the Ethereum blockchain explorer Etherscan and took place during the early morning hours of October 5th.
SHIB Team Warns Investors
Last week, the Shiba Inu development team issued a warning to investors, advising them to conduct their own research and be cautious of suspicious individuals claiming affiliation with the SHIB ecosystem. The team emphasized that just because someone uses the name “Shibarium,” which is the ecosystem’s recently launched layer-2 scaling solution, does not mean they are associated with the project. The team assured that all official partnerships would be announced through the ecosystem’s Discord channel or official blog.
Growth in SHIB Ecosystem
In September, the SHIB ecosystem experienced rapid growth following the launch of Shibarium. This led to increased staking for Bone ShibaSwap (BONE), the digital asset used for paying gas fees on the layer-2 scaling solution. Data from Shibariumscan showed that over 2.5 million transactions were conducted on Shibarium, with more than 27 million BONE staked.
Current Prices
As of now, SHIB is trading at $0.000007, while BONE is priced at $0.795.
Hot Take: Shiba Inu Whale Moves Trillions of SHIB
A wealthy Shiba Inu trader has recently transferred a massive amount of SHIB out of Bitvavo, causing speculation about the future direction of the cryptocurrency. The transfer, worth approximately $33 million, occurred on October 5th and was recorded on the Ethereum blockchain. This move comes after the SHIB development team warned investors to be cautious of suspicious actors claiming affiliation with the project. The team emphasized that official announcements would only be made through specific channels. Additionally, the SHIB ecosystem has seen significant growth following the launch of Shibarium, with millions of transactions and millions of BONE staked. The current prices for SHIB and BONE are $0.000007 and $0.795, respectively.
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