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HomeCrypto NewsShiba InuBinance Transfers 6.4T Shiba Inu; No Effect on Price

Binance Transfers 6.4T Shiba Inu; No Effect on Price

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As of the time of writing, Etherscan data shows that Binance has sent 6.4 trillion Shiba inu to an anonymous wallet during the last 13 hours. 

Over 14 transactions made up the move, and Whale Alert also emphasized the deals.

There were 14 transactions totaling 1.6 trillion SHIB in the transfer, of which four were reported yesterday.

According to information from the anonymous wallet, the top cryptocurrency exchange sent 1 million SHIB to the wallet a little over 13 hours ago before starting the transactions mentioned yesterday. 

In addition, it made two transfers totaling 449,999,668,412 (roughly 450 billion SHIB) and six transfers totaling 499,999,677,307 (approximately 500 billion SHIB) after the four transactions noted yesterday. 

It also made one transfer totaling 370,320,528,788.4 (roughly 370.3 billion SHIB) to the unidentified wallet.

It increased the number of transfers to the wallet identified as coming from Binance to about 6.4 trillion SHIB. 

However, as of this writing, the wallet’s balance only amounts to about 5.9 trillion SHIB, or more than $74 million at today’s exchange rates. 

It suggests that some of the funds have been transferred once more.

Reason For Transactions Remains Unclear

Uncertainty surrounds the transactions’ motivation, and Binance still needs to respond to a request for comment.

These are the most recent of numerous enormous Shiba Inu deals that have been seen recently. 

As was previously reported, the defunct cryptocurrency lender Voyager sent 270 billion SHIB to exchanges based in the United States.

These transfers, however, have not had a detrimental effect on the price of the well-known cryptocurrency with a canine theme. 

One of the few assets to be printing gains at the moment, as we observe what seems to be a market-wide slump, it is currently the top gainer among the top 20 crypto assets by market cap.

It is currently worth $0.00001248, up 3.07% from the previous day. The price is moving upward, although there is resistance near the $0.00001258 price level, according to the 4-hour price chart.

According to reports, Binance is the largest Shiba Inu holder, holding 83 trillion SHIB, valued at $738,549,274 ($738.54M), in two of its wallets labeled “Binance 28” and “Binance 8.”

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