Whale Shiba Inu moved SHIB to $33 million

Keith Shiba Inu transferred more than 4.58 trillion SHIB tokens from the Bitvavo cryptocurrency exchange to an unknown wallet.

The value of the moved coins at the current price is about $33 million.

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Keith transferred trillions of SHIB to Bitvavo

There are many whale investors in the Shiba Inu ecosystem, and transactions between them are not uncommon. Over the past few months, trackers have repeatedly recorded large SHIB transfers from various addresses.

According to the Whale Alert tracker, address 0xfd55 associated with the well-known trading platform Bitvavo transferred tokens to the private wallet 0xB96C. It is not possible to understand what the whale plans to do with the received coins - however, such large transactions give rise to a lot of speculation from the crypto community. The withdrawal from exchanges reduces the available supply of SHIB, thereby reducing selling pressure.

Although the actions of large investors often influence the price of an asset, this time the price of Shiba Inu barely reacted to the multi-million dollar transfer. At the time of writing, memcoin is trading at $0.00000724, having gained 0.8% over the past 24 hours.