Within ten minutes, a Binance-affiliated account transferred a staggering 1.62 trillion Shiba Inu (SHIB) tokens to an unnamed wallet. The event occurs as SHIB, one of the top gainers among the top 20 tokens by market cap, has increased by 12% during the past 24 hours.

The SHIB tokens transferred by Binance were transferred in four separate transactions over the course of 10 minutes, with three of these transactions being reported by Whale Alert. 499,999,668,400 (499.9M) SHIB worth $6.4 million were transferred to an anonymous wallet in the first transaction, which happened today at 16:34 (UTC).

The fact that the second and fourth transactions featured exactly the same amount of SHIB tokens as the first transaction has so far caused some controversy among enthusiasts. Furthermore, the third transaction, at $1.6 million, involved 126.1 billion SHIB. From two different Binance-related addresses, all funds were transferred to the same anonymous wallet. Over 1.6 trillion SHIB, worth $20.9 million, are currently in the unidentified wallet.

Recently, there have been significant inflows of funds into Shiba Inu, involving major players referred to as “whales.” Last month, this trend continued with a new whale reported to have acquired over 3 trillion tokens in one transaction. This was followed by one of the largest ETH whales acquiring 120 billion SHIB tokens.

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A Look at Shiba Inu’s Development and Price Movements

Shiba Inu has risen by 12.24% over the past 24 hours, in contrast to Binance’s most recent price trend. For the first time since January 18, the asset has reached the value of $0.00001286 and is now trading in that range as of the time of publication.

The asset is now chasing new highs after overcoming the strong resistance level at $0.00001286. Shiba Inu analyst SHIB Knight claimed that the asset is currently focused on the next target at $0.00001330, which would act as a leap to the high of $0.00001372.

Both the upward market trend and various positive occurrences within the SHIB community, such as consistent burns and a higher adoption rate, have contributed to the recent rally in SHIB. Today, FCF Pay revealed that SHIB debit card payments reached a new ATH. Moreover, investors have been drawn in by the excitement around Shibarium.