Shiba

Burn

Prime

Read

Shiba Inu

<ul>
 <li>An unidentified investor moved 419.873 billion SHIB tokens worth $3.87 million between mysterious addresses “0xecfB” and “0xd37.”</li>
 <li>The Shiba Inu tokens originated from Coinbase Prime Custody, suggesting an institutional nature to the substantial transaction.</li>
 <li>Despite a 20.5% decrease in SHIB’s value over a month, signs of a market reversal emerge.</li>
</ul>
An unidentified major investor has executed a significant transaction involving a staggering 419.873 billion Shiba Inu (SHIB) tokens, valued at an impressive $3.87 million.&nbsp;
<a href="https://etherscan.io/address/0xd373B9ad0246953Ef5DA4E93D7eD21A23992A2A1#tokentxns" rel="noopener noreferrer nofollow">Etherscan’s tracking</a> reveals the rapid migration of this substantial SHIB volume from the “0xecfB” to the “0xd37” address within the past three hours, with both addresses enshrouded in mystery. The origin of the Shiba Inu tokens heightens the complexity of this large token transfer. Initially held in a sender address associated with Coinbase Prime Custody, the transaction suggests a potential institutional nature, aligning with Coinbase’s custody solution and adding layers of intricacy to the narrative.
This unprecedented event unfolds against Shiba Inu’s dynamic price action. Having weathered a prolonged 36-day downtrend, the SHIB price recently experienced a 20.5% decrease, dropping to $0.0000092 from its peak a month ago. Despite this decline, indications of a potential market reversal surface, with active buybacks hinting at a temporary bottom for the Shiba Inu token.
As the SHIB price strives to recover the coveted $0.00001 threshold, the mysterious nature of the massive transaction involving nearly 420 billion SHIB tokens adds an intriguing dimension to the narrative. Meanwhile, per the latest <a href="https://coincodex.com/crypto/shiba-inu/price-prediction/" rel="noopener noreferrer nofollow">Shiba Inu price forecast</a> by CoinCodex, indications suggest a potential decline of 6.24%, projecting the price to hit $ 0.08526 by January 27, 2024. Technical indicators currently reflect a Bearish sentiment. However, the Fear &amp; Greed Index registers at 55 (Greed).
<h4 class="wp-block-heading" id="h-read-also">Read also:</h4>
<ul class="wp-block-yoast-seo-related-links">
 <li><a href="https://cryptonewsland.com/shiba-inus-burn-rate-skyrockets-44000-price-reacts/" rel="noopener noreferrer nofollow">Shiba Inu’s Burn Rate Skyrockets 44,000%: Price Reacts</a></li>
 <li><a href="https://cryptonewsland.com/ripples-future-unveiled-top-xrp-influencers-projections-spark-intrigue/" rel="noopener noreferrer nofollow">Ripple’s Future Unveiled: Top XRP Influencer’s Projections Spark Intrigue</a></li>
 <li><a href="https://cryptonewsland.com/cardano-dominates-crypto-development-ada-price-reacts/" rel="noopener noreferrer nofollow">Cardano Dominates Crypto Development: ADA Price Reacts</a></li>
 <li><a href="https://cryptonewsland.com/crypto-market-reacts-to-secs-complaint-against-binance/" rel="noopener noreferrer nofollow">Crypto Market Reacts to SEC’s Complaint Against Binance</a></li>
 <li><a href="https://cryptonewsland.com/xrp-ledger-surpasses-5m-active-accounts-will-xrp-price-react/" rel="noopener noreferrer nofollow">XRP Ledger Surpasses 5M Active Accounts: Will XRP Price React?</a></li>
</ul>
The post <a href="https://cryptonewsland.com/shiba-inu-whale-moves-420b-shib-tokens-will-price-react/" rel="noopener noreferrer nofollow">Shiba Inu Whale Moves 420B SHIB Tokens: Will Price React?</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.

Shiba Inu Whale Moves 420B SHIB Tokens: Will Price React?

Crypto News Land

Other articles published on Jan 22, 2024

Dogecoin and Solana holders looking at Kelexo presale

Bitcoin Price Turns Red, Why BTC Could Tumble Below $40K

Polkadot Price Loses Momentum: Is a Prolonged Downtrend Ahead?

ConcentricFi Reports Security Breach: $1.8 Million Lost

The First Bitcoin ETF Provider Invests in De.Fi, a Web3 SuperApp

CTSI Altcoin Poised for Breakout: Analyst Predicts Major Rally

Join our free newsletter for daily crypto updates!