Shiba Inu's $46 Million Mystery: Whale Moves Huge Amount of Tokens Amid Shibarium Growth

6:59 AM・Dec 28, 2023

TopCryptoNews

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A mysterious Shiba Inu whale ($SHIB) has moved his staggering stash of 4.25 trillion tokens worth around $46.4 million into a new cryptocurrency wallet in a move that was detected by cryptocurrency transaction monitors whales, but does not suggest they are selling the funds.

The transaction was made at a time when Shiba Inu's burn rate has increased exponentially, with over 8.6 billion tokens burned in just 24 hours earlier this month, at a time when the project is partnering with domain company D3 Global to allow users to acquire .shib domains.

🚨 🚨 4,254,147,213,294#SHIB(46,468,050 USD) transferred from unknown wallet to unknown wallethttps://t.co/D5BkxJXp8b

— Whale Alert (@whale_alert) December 24, 2023

The whale transactions caught the attention of the meme-inspired cryptocurrency community as market watchers noted that funds were not moving to cryptocurrency exchanges, suggesting they would not be dumped on the market.

The project previously launched its Shibarium layer 2 network, whose total value locked recently briefly surpassed the $1 billion mark as SHIB's value rises and its adoption grows. The largest decentralized finance project on Shibarium is currently MARSWAP with over $555,000 in total value locked, ahead of ChewySwap's $211,000.$SOL $ETH $BNB