As Shiba Inu faces pressure to maintain the $0.00001 mark, recent on-chain data reveals a substantial transfer of 4.2 trillion SHIB, valued at $45 million.
Key Takeaways
- Shiba Inu experiences on-chain movement of 4.2 trillion SHIB, valued at $45 million, from a whale address to a newly created one.
- The transfer, among the largest in recent SHIB history, occurred on December 25 and stands out compared to transactions by a new whale and Tron founder Justin Sun.
- Tokens transferred remain in the receiving address, allaying concerns of immediate liquidation, which could adversely impact SHIB’s price.
- Despite the potential market uncertainty induced by such whale transactions, SHIB steadfastly defends the $0.00001 mark, showcasing resilience and fueling hopes for an impending uptrend.
Whale Moves 4.2 Trillion SHIB
As Shiba Inu navigates the challenge of maintaining the $0.00001 mark amid a mild crypto market retracement, on-chain data has uncovered a noteworthy event.
A substantial amount of SHIB, precisely 4.2 trillion tokens valued at approximately $45 million, was transferred from a whale address to a newly created one on December 25 at 12:42 (UTC). This Shiba Inu transaction surge stands out as one of the largest in recent SHIB history, surpassing notable moves by a new whale and Tron founder Justin Sun.
New Player in the Arena
The address receiving the substantial SHIB amount appears to be a newcomer, having executed a test transaction of 15 billion SHIB (approximately $150,000) just before the large transfer. This sequence of events within a short timeframe adds an element of intrigue to the situation.
SHIB’s Resilience and Price Defense
Despite the potential uncertainty induced by significant whale transactions, SHIB holders have demonstrated resilience. The cryptocurrency has staunchly defended the $0.00001 mark for eight consecutive days, marking its longest duration above this level in weeks. This sustained defense fosters optimism within the SHIB community, hinting at the possibility of an imminent uptrend for the token.
Whale Moves 4.2 Trillion #ShibaInu as #Shib Defends $0.00001. #SHIBArmy #SHIBCommunity https://t.co/ej2OTkSRFp
— TheCryptoBasic (@thecryptobasic) December 26, 2023
To Conclude
The recent movement of 4.2 trillion SHIB, valued at $45 million, from a whale address to a new one has stirred both interest and concerns in the Shiba Inu community.
As SHIB steadfastly defends the $0.00001 mark, holders exhibit resilience, fostering hope for a potential uptrend despite the uncertainties associated with notable on-chain movements.
