A Shiba Inu whale recently made a noteworthy transfer of a massive amount of Shiba Inu [SHIB] tokens from the prominent crypto exchange Binance.US.
The crypto-verse encompasses various entities, including pertinent players known as whales. These whales conduct substantial crypto transactions that hold significance in the market. Due to their capacity to influence market movements, it is essential to monitor their activities closely.
Whale Alert reported that someone transferred 2,416,836,656,676 SHIB tokens from the crypto exchange Binance.US in a single transaction about 11 hours ago. This substantial transfer is valued at $18,771,570. Such significant transactions from whales can impact the SHIB token’s market dynamics, and it is important for investors and traders to stay vigilant about such movements.
Whale Alert data show that the quantity of Shiba Inu tokens was moved to an unidentified wallet. However, information from Arkham Intelligence suggests that this address is linked to Binance.US. The platform has recorded several SHIB transfers between internal wallets within the cryptocurrency exchange.
The transaction is an internal transfer, as it had minimal impact on the price of the meme coin. At the time of reporting, SHIB was trading at $0.000007847, with a modest daily increase of 1.15%. Earlier today, the coin experienced a slight dip in its market position, but it has since recovered, currently ranking 18th with a market capitalization of $4.62 billion.
Shiba Inu is Making Waves in South Korea
Shiba Inu has witnessed a remarkable surge in popularity within the South Korean market, thanks to its listings on major exchanges like Bithumb and Upbit. This move has resulted in widespread adoption among South Korean investors, further fueling the coin’s success in the region. Capitalizing on this growing demand, Coinone, the third-largest cryptocurrency exchange in South Korea, strategically decided to join the ranks and list SHIB. By doing so, Coinone has solidified the meme coin’s position in the South Korean crypto market, adding to its appeal among local investors.
Coinone’s decision to allow SHIB token trading on its platform further bolsters the credibility of the meme coin’s adoption within the exchange’s ecosystem. Moreover, the exchange’s accessibility to clients across Asia presents a tremendous opportunity for Shiba Inu to expand its presence and establish a strong foothold in the region’s thriving crypto market. With increasing interest and support from major exchanges and investors, Shiba Inu’s journey in the South Korean market is set to gain even more momentum, propelling its position as a prominent player in the cryptocurrency landscape.
At press time, Shiba Inu (SHIB) was trading at $0.00000784 per coin.