Dog-themed cryptocurrency Shiba Inu has been the star of the week so far, gaining nearly 300% in the last seven days.
Accompanying the price surge is a large movement of Shiba Inu tokens by whales who are either speculating on the price or moving the tokens for business purposes.
In the last 24 hours, a colossal movement of Shiba Inu Coin (SHIB) has been witnessed, amounting to a staggering 1.8 trillion tokens.
Even further back, in the last 48 hours, a massive 1.25 trillion SHIB were transferred to an address described as “Robinhood 2” by Etherscan.
Crypto data tracker Whale Alert reports three staggering Shiba Inu transfers in recent hours totaling nearly 1.8 trillion SHIB. In two transactions, almost 346 billion SHIB were transferred from Wintermute to the Binance cryptocurrency exchange.
🚨 167,809,919,988 #SHIB (5,286,935 USD) transferred from #Wintermute to #Binancehttps://t.co/aU8tNgMsxB
— Whale Alert (@whale_alert) March 5, 2024
A total of 167,809,919,988 SHIB worth $5,286,935 was transferred from Wintermute to Binance in a single transaction, while in another, 183,073,161,874 SHIB worth $5,550,168 were shifted.
Another massive transaction saw the transfer of 1,450,254,597,018 SHIB valued at $54,846,453 between unknown wallets.
On March 4, a staggering 1,250,318,249,876 SHIB worth $41,329,269 was transferred from Cumberland to an unknown wallet identified as “Robinhood 2” by Etherscan.
This significant shift in Shiba Inu tokens is reflected in whale measures such as inflows and outflows. Large Holders Inflow from IntoTheBlock tracks funds going into addresses belonging to whales, while outflows estimate the funds going out.
For instance, Shiba Inu has seen an uptick in large holder inflows, which have ballooned since Feb. 29 as prices rose. Shiba Inu has demonstrated a 1,043% rise in large holder inflows in the last seven days, while large holder outflows have increased by 799% over the same period.
At the time of writing, SHIB was down 8% in the last 24 hours to $0.000036 in response to profit-taking. In positive ecosystem news, Doge Killer (LEASH) has been listed by the CoinEx crypto exchange.
