Shiba Inu (SHIB) Whales Transfer Trillions of Tokens Amid Rising Activity

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Whale Alert, a platform that tracks large cryptocurrency transfers, has detected a significant movement of SHIB tokens. Two anonymous wallets were involved in the transfer, with one sending a total of 4.4 trillion SHIB to the other. This transaction was worth approximately $35.8 million. It is believed that these two wallets are owned by the same entity, possibly looking to split their massive stash of SHIB. This transfer comes at a time when there has been a surge in whale activity, coinciding with several milestones reached by the Shibarium blockchain. Shibarium has surpassed 1.5 million total blocks, approaching 4 million transactions, and over 1.2 million wallet addresses.Despite efforts to reduce the supply of SHIB tokens, including burning 1.5 billion tokens in October, the price rally for SHIB has been relatively slow. The burning program has already burned 41% of the initial supply, aiming to increase the coin’s value over time. However, the price of SHIB has only increased by 5% on a weekly basis and 15% over the past month. This has led to speculation among the crypto community about whether there will be a significant price rally for SHIB. In the past week alone, 100 million SHIB tokens were burned.

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