- An anonymous investor recently purchased 4 trillion Shiba Inu (SHIB) tokens.
- Despite a 6.04% daily drop, SHIB shows bullish signs, increased trading volume, and sustained buying pressure.
- Shibarium’s innovative token burn mechanism, using 70% of fees, sets a new precedent in SHIB’s market dynamics.
An anonymous investor recently purchased 4 trillion Shiba Inu (SHIB) tokens. Valued at $42 million, this transaction represents the largest individual SHIB purchase recorded in December. Uniquely, the transaction bypassed cryptocurrency exchanges, taking place directly between wallets. Whale Alert, a cryptocurrency wallet tracker, initially reported this substantial token transfer on X (formerly Twitter).
4,193,953,460,450 #SHIB (40,823,942 USD) transferred from unknown wallet to unknown wallethttps://t.co/ZBibgHTqpE— Whale Alert (@whale_alert) December 11, 2023
The Shiba Inu team’s recent confirmation that Shibarium, their layer two network, will initiate SHIB token burns starting January 2024 adds another layer to this development. This move by the whale could be a calculated bet on the potential effects of these burns. If Shibarium successfully implement…
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