The Shiba Inu (SHIB) cryptocurrency community is witnessing a monumental event with the recent movement of over 4 trillion SHIB tokens, valued at a staggering $42 million. This episode triggered a series of speculations and expectations, marking a crucial moment for the SHIB ecosystem.

The transaction, detected by the well-known tracking bot Whale Alert, occurred between wallets labeled as “unknown”, with no exchange involvement. This move suggests the possibility of over-the-counter (OTC) trading or a strategic redistribution of assets by a large whale.

In the current scenario, SHIB is standing out not just as a meme coin, but as a cryptocurrency with significant developments. Its lead developer, Shytoshi Kusama, recently earned a spot among CoinDesk’s Top 50 Crypto Influencers, reinforcing SHIB’s rising status.

Furthermore, SHIB has been delivering remarkable price performance. After attempts to surpass the $0.00001 level, the token experienced a significant increase of 16%, followed by a decrease of 9%. However, in recent days, there was a 10% jump in value, reaching US$0.00001042.

In a stunning development, the Shiba Inu team carried out the first token burn since the launch of Shibarium, sending 8.2 billion SHIB to an inaccessible address. This action, which aims to reduce circulating supply, is part of a larger strategy to boost the value of the token.

The large-scale movements in SHIB, combined with price fluctuation and token burn initiatives, are adding an intriguing layer to the market dynamics. At the time of publication, the price of SHIB was quoted at US$0.00001032, up 3% in the last 24 hours.


The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.


Leave a Reply