In a spectacular start to the week, the Shiba Inu token witnessed a seismic on-chain event that may send shockwaves through the SHIB community. According to insights from IntoTheBlock, the volume of substantial transactions involving Shiba Inu experienced an extraordinary surge, skyrocketing by an astonishing 266% within the past 24 hours.
This surge specifically pertains to transactions with a magnitude exceeding $100,000 in SHIB equivalent, totaling an impressive 47 transactions during this time frame. Consequently, the cumulative volume of whale transactions with the Shiba Inu token soared to an astounding 5.58 trillion SHIB, equivalent to a staggering $59.54 million in dollar terms.
The epicenter of this on-chain explosion can be traced back to a monumental transfer of 4.25 trillion SHIB, valued at 46.47 million, just over 13 hours ago. As reported by WhaleAlert, this colossal movement transpired between two enigmatic wallets, with the source being identified as the Coinbase Prime Custody wallet, per Etherscan explorer data.
What adds intrigue to this mammoth transfer is that the recipient’s wallet is not only unknown but also freshly created, with this transaction marking its inaugural activity. Remarkably, the wallet is now home to trillions of SHIB tokens, and its existence is shrouded in mystery, providing the Shiba Inu community with much to speculate about.
As Shiba Inu continues to capture the attention of investors, the question on everyone’s mind is, what monumental shift in the crypto landscape will this colossal transfer pave the way for in the days to come? The Shiba Inu saga unfolds with each block, keeping the SHIB army on the edge of its seat.