Saturday, February 4, 2023
HomeCrypto NewsCoinbase Becomes Home to a Staggering 1 Trillion Shiba Inu Tokens

Coinbase Becomes Home to a Staggering 1 Trillion Shiba Inu Tokens

- Advertisement -

A significant Shiba Inu transaction involving more than 1 trillion tokens occured a few hours ago. A mysterious wallet transferred 1,060,594,914,048.897 SHIB tokens to the cryptocurrency exchange Coinbase 8 hours and 30 minutes ago, according to on-chain statistics from Etherscan.

The sender paid a gas fee of just $0.00000001 Ether and a transaction fee of about $0.58 to complete the transfer. The total cost of all the Shiba Inu tokens sent was $10.35 million.

Source: Etherscan | 1 Trillion Transaction Transfer Details

The sending address wallet was empty of Shiba Inu tokens at the time of publication. Even though the aforementioned transfer to Coinbase appeared to be a significant sale, SHIB immediately registered a sizable green candle on its chart. The long-green hourly candle started off at $0.00000945 and later deleted a zero to reach a high of $0.00001014 on Monday.

Read more: 555B Shiba Inu Added by Two New Mysterious Whales

However, the price could not remain at the stated level for long. After that, there was a retracement. SHIB was trading at $0.00000974 at the time of publication, with the reading of the Relative Strength Index dipping below its SMA.

Source: TradingView SHIB/USDT

A different coin from the Shiba Inu ecosystem, BONE, rose by roughly 50% in just two weeks, excluding Shiba Inu’s brief spike. The rally is taking place as the community excitedly awaits the release of the Shibarium. The team revealed that Layer-2 validators of SHIB would use BONE.

Read also: Fresh Whale Acquires 648B Shiba Inu, Claiming the 66th Largest Holder Spot

Return on Investment for Shiba Inu Investors

In contrast to Dogecoin, most Shiba Inu investors were in the red at the time of publication. On average, only 30.7% of addresses have profits so far this year. However, losses occurred at 64.51% of the addresses. The remaining 4.79% of them experienced a no-loss, no-gain state.

- Advertisement -
RELATED ARTICLES
- Advertisment -spot_imgspot_img

Most Popular