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HomeCrypto NewsMarketThis New Address Becomes 4th Biggest Shiba Inu Holder

This New Address Becomes 4th Biggest Shiba Inu Holder


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Cryptocom moves massive Shiba Inu.

Singapore-based cryptocurrency exchange, Crypto.com moved $269.59 Million worth of Shiba Inu (SHIB) to the new address in the past hour. The new address, as a result, becomes the 4th biggest Shiba inu holder.

Crypto.com recently transferred a staggering 24,939,482,510,233 (24.93T) SHIB, worth $269,595,805 ($269.59M) from one of its wallets tagged “Crypto.com 3” to the new wallet through six separate transactions in the past hour, Etherscan.io data reports.

Nascent Shiba Inu Whale Scooped Up 26959 Million USD Worth of SHIB
Nascent Shiba Inu Whale Scooped Up 26959 Million USD Worth of SHIB

This makes Crypto.com’s new wallet the 4th biggest holder of Shiba Inu.

Kris, the CEO of Crypto.com, took to his Twitter handle to clarify the reason behind this move. He explained that the transfer is part of Crypto.com’s routine custody operations, where they rebalance assets across new addresses to maintain the safety and security of their wallets. He further said that the transfer would not affect customers in any way. The company has also updated its asset dashboard on Nansen.

This massive SHIB transfer has led to a surge in Shiba Inu’s trading activity, making SHIB one of the most traded tokens among the 2000 biggest ETH Whales in the past 24 hours.

The Shiba Inu Ecosystem has been in the news lately due to its various developments. Marcie Jastrow, the Metaverse Advisor for Shiba Inu, will attend the Outer Edge Los Angeles (LA) event starting Monday, along with other notable players in the Web3. This appearance will bring more attention to Shiba Inu and the broader cryptocurrency space.

In addition, LunarCrush has reported that social activity around Shiba Inu has reached a 3-month high, with over 50,000 people participating in daily discussions on social media.

Meanwhile, the Shiba Inu team is focused on creating the Shibarium Documents, which are anticipated to be made public sometime this week. These documents will contain crucial information about the blockchain, providing a comprehensive overview of its features and functions.

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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.



Zabi is crypto enthusiastic with more than 10 years of experience in managing Google News-approved Finance websites. Zabi has a strong background in finance with a thorough understanding of cryptos and a solid grip on the crypto and financial market industry. Along with his passion for crypto writing, Zabi manages his personal stock and finance-related Google News-approved websites.

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