Lucie, the lead marketer for the Shiba Inu ecosystem, expresses excitement at reports of a new blockchain wallet withdrawing over 110 billion SHIB from Binance.
Yesterday, Onchain Lens reported that a newly created crypto address withdrew 110.34 billion SHIB tokens from Binance. The accompanying chart showed that Binance transferred the tokens from two of its wallets, Binance 14 and Binance 15, to the newly created address in three separate transactions.
These transactions contained 181,430 SHIB, 55 billion SHIB, and another 55.34 billion tokens, bringing the total to over 110.34 billion SHIB. At the time of the transfer, the moved SHIB tokens were worth around $1.45 million.
Besides withdrawing SHIB, the entity behind the new wallet also withdrew other crypto assets, including 80,126 LINK ($1.46 million), 3.44 million MATIC ($762,000), and 142.62 ETH ($552,000) from the leading crypto exchange.
Lucie Reacts
Meanwhile, the massive SHIB withdrawal attracted the attention of Lucie, the Shiba Inu ecosystem marketer. Reacting, she tweeted ‘SHIB’ accompanied by a smiling face with hearts emoji, expressing her excitement about the development.
Transferring such a large amount of SHIB from Binance to a private wallet suggests long-term conviction. This implies the user does not intend to sell the SHIB tokens anytime soon. As of press time, all 110.34 billion SHIB tokens withdrawn from Binance remain in the wallet.
Last week, The Crypto Basic reported a similar development after an unknown wallet withdrew 5 trillion SHIB from Coinbase.
Good Timing?
One notable aspect of this transaction is its timing. The move occurred as SHIB rebounded above the $0.000013 level shortly after dipping to $0.00001268 on July 30.
It’s possible the user behind the new wallet took advantage of this brief dip to acquire SHIB at discounted prices from Binance.
SHIB Dips Over 7% as Trump Unveils New Tariff Plan
In the meantime, the crypto market is witnessing a broader market sell-off, leading to the liquidation of $754 million over the past day. This comes after President Donald Trump unveiled a new tariff plan, subjecting most countries to higher tariffs.
Expectedly, the financial markets reacted negatively to this development. In particular, the crypto market is down 4.51% over the past 24 hours to $3.72 trillion.
Notably, Shiba Inu is also down 7.42% over the past day and currently changing hands at $0.00001212. It remains the 22nd biggest cryptocurrency with a market cap of $7.14 billion.
DisClamier: 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 opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
