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HomeCrypto NewsMarketBinance Sends 1.6 Trillion Shiba Inu to Unknown Wallet Within 10 Mins

Binance Sends 1.6 Trillion Shiba Inu to Unknown Wallet Within 10 Mins


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The exchange transferred all the tokens in four different transactions today between 16:34 and 16:44 (UTC).

A Binance-affiliated address recently transferred a whopping 1.62 trillion Shiba Inu (SHIB) tokens to an unidentified wallet today within ten minutes. The development comes as SHIB appreciates by 12% in the past 24 hours, putting it on the list of top gainers among the 20 largest tokens by market cap.

The SHIB tokens transferred by Binance were sent in four different transactions in the space of ten minutes, with three of these transactions highlighted by Whale Alert. The first transaction, which occurred today at 16:34 (UTC), involved the transfer of 499,999,668,400 (499.9M) SHIB worth $6.4 million to an unidentified wallet. 

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The second and fourth transactions involved the exact same amount of SHIB tokens as the first transaction, which has so far raised questions among proponents. However, the third transaction involved 126.1 billion SHIB valued at $1.6 million. All funds were sent to the same unidentified wallet from two different Binance-affiliated addresses. The unknown wallet now holds over 1.6 trillion SHIB worth $20.9 million.

Shiba Inu has been registering some massive fund flows involving large whales of late in a pattern that spilled from last year. Last month, a new whale was reported to have amassed over 3 trillion tokens at once. Shortly after that, one of the top ETH whales cupped up to 120 billion SHIB tokens. 

Shiba Inu Developments and Price Movements

Meanwhile, the latest movement from Binance comes at a time when Shiba Inu has gained by 12.24% in the past 24 hours. The asset has attained the value at $0.00001286 for the first time since January 18, currently changing hands at the price territory as of press time.

At the current price, the asset has conquered the fierce resistance point at $0.00001286 and is seeking new highs. SHIB Knight, a Shiba Inu analyst, asserted that the asset currently has its eyes set on the next target at $0.00001330 which would serve as a launchpad to the high of $0.00001372.

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SHIB’s recent rally has been triggered by both the market-wide uptrend and several favorable developments within the SHIB community, including persistent burns and an increased adoption rate. FCF Pay disclosed today that SHIB payments with its debit cards hit a new ATH. Moreover, the hype around Shibarium has also attracted investors.

Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.



Mark Brennan
Mark Brennanhttps://thecryptobasic.com/
Mark Brennan has been active in the cryptocurrency sector since 2014. His love and passion for the nascent industry drove him to develop interest in writing about important developments and updates about cryptocurrencies and blockchain. Brennan, who holds a Masters degree in Business Administration, learned about the potential of blockchain technology. Aside from crypto journalism, Brennan runs an education center, where he educates people about the asset class.

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