Crypto whale withdrew 600 billion Shiba Inu (SHIB) from Binance

Bitcoin exceeding 41 thousand dollars has mobilized altcoins, which have not been able to keep up with the recent rally, at least slightly. While whales make critical transfers to control their investments, an account that sent 250 billion units last week has withdrawn 600 billion SHIBs from Binance this time.

While Bitcoin's rise above 40 thousand dollars further fuels the debate on whether the bull season has come in cryptocurrencies, whales are also making critical transfer movements.

According to the information provided by the on-chain tracking platform Lookonchain; A whale, who withdrew 250 billion units ($2.3 million) from Binance 9 days ago, also withdrew 600 billion SHIB ($5.7 million) from Binance to a wallet he had just opened.

As it is known, investors withdraw crypto money from stock exchanges during periods when they do not intend to sell in the short term. In opposite cases, assets from cold or hot wallets are sent to exchanges for sale. Therefore, the whale may have withdrawn from the stock market because he thought the prices would increase further.

As you may remember, SHIB left its mark on the second half of the bull season in 2021. Shiba Inu, one of the two meme coins of that period along with Dogecoin, broke a record by reaching $0.000086 in October of that year.

Shiba Inu is known for appealing to a serious audience of investors from all over the world.

SHIB recorded a 4 percent increase in the last 24 hours with the increase in Bitcoin and was traded at $ 0.0000093 at the time the news was written.