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Over the past hour, an unusual Shiba Inu (SHIB) acquisition was spotted on the channel. By According to data from analytics platform Whale Alert, at least 818,460,000,000 SHIB have been moved from Singapore’s leading crypto exchange, Crypto.com. A special feature of this transaction is that the funds were transferred to anonymous wallets.
Buying a Large Shiba Inu
The Shiba Inu transactions observed include 1,636,940,000,000 SHIB worth $39,038,563 and were transferred to anonymous Crypto.com wallets. The other four transactions also have similar transaction sizes but with a gradual decrease in the amount of money transferred.
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Ideally, when tokens are routed out of an exchange like this, it is often means accumulationa trend which is a sign of a likely rise in prices in the future. Another unique twist associated with these latest rounds of SHIB trading comes from CryptoCom, a trading platform unknown to most of the Shiba Inu ecosystem buzz.
Many might consider the timing of these accumulations strange, given the recent rise in the price of the Shiba Inu. At the time of writing, Shiba Inu was changing hands for $0.00002377, up 2.2% in 24 hours, with trading volume also showing an uptick.
However, betting on the token when the price is bullish proves that there is strong confidence in the token’s prospects.
Collective validation of SHIB whales
Beyond CryptoCom, Shiba Inu has recorded whale activities or high volume trading on other top exchanges like Binance.
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The meme coin remains in the spotlight as volatility has continued to define the pace of growth for major assets. Currently, Shiba Inu maintains its ranking at number two in the market, with a market capitalization of $14.16 billion.
Given the advancements in its ecosystem, analysts believe that SHIB has a bright future and could rise higher.