Several huge crypto wallets have simultaneously transferred trillions of the top memecoin Shiba Inu (SHIB) in a flurry of transactions.
Whale-watching bot Whale Alert initially witnessed consecutive Shiba Inu transactions to the tune of 6,087,952,185,06 SHIB worth over $65 million.
Whale Alert first caught the transfer of 1,920,298,469,247 SHIB worth $20.51 million from an unknown wallet to another unknown wallet. The Shiba Inu whale shelled out $1.37 in transfer fees to relocate the massive SHIB trove.
In a matter of seconds, a separate address moved 2,247,355,246,569 SHIB worth over $24 million from a wallet of unknown origin to another wallet of unknown origin.
— Whale Alert (@whale_alert) April 3, 2023
The SHIB investor with deep pockets paid just $1.37 in transfer fees to move the massive Shiba Inu stack.
A third transfer saw the movement of another batch of 1,920,298,469,247 SHIB worth $20.51 million between wallets of unknown origin. According to Whale Alert, the large entity paid the same $1.37 in transfer fees to process the multi-million-dollar transaction.
All of the large transactions happened within the same minute, which indicates that a massive Shiba Inu whale could be behind the transfers.
The huge Shiba Inu movements come as the top memecoin flashes signs of life over the past week. SHIB ascended from a low of $0.00001029 on March 28th to a weekly high of $0.00001146, marking gains of over 11%.
SHIB has slightly retraced since the weekly high and is trading for $0.00001119 at time of writing.
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