HomeNewsMysterious Transfer of 2.4 Trillion SHIB Tokens Spurs Price Speculation

Mysterious Transfer of 2.4 Trillion SHIB Tokens Spurs Price Speculation

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  • 2.4 trillion Shiba Inu (SHIB) tokens were recently transferred from BinanceUS to an unidentified wallet.
  • This significant transfer coincides with rumors about the upcoming launch of the Shibarium mainnet, which is anticipated in August, stirring speculation about potential price increases.

In a recent development, a colossal sum of 2.4 trillion Shiba Inu (SHIB) tokens was transferred from BinanceUS to an undisclosed wallet. This move, recorded by Whale Alert, has triggered a surge in whale accumulation within the Shiba Inu community.

Whale Alert Triggers Speculation

Whale Alert, a live tracker of large cryptocurrency transactions, reported the transfer of 2,416,836,656,676 SHIB tokens, equivalent to approximately $18.77 million, from BinanceUS to an anonymous wallet on July 20.

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Data obtained from Etherscan revealed frequent token transfers from BinanceUS 2 wallet to a new wallet address denoted by 0x058A over the past two days. Given the activity, it’s plausible that the new wallet may belong to the crypto exchange itself. As it stands, this wallet holds 69 tokens valued at roughly $72.62 million.

Connecting the Dots: BinanceUS, Shibarium, and SHIB

Members of the Shiba Inu community have noted the significant SHIB token transfer from BinanceUS and conjectured a possible link to the imminent Shibarium launch next month. The forthcoming launch of the Shibarium mainnet, announced by lead developer Shytoshi Kusama, has raised anticipation within the community, with a significant number of whale transactions happening in expectation of the Layer-2 blockchain Shibarium debut.

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The Shiba Inu ecosystem will also be the title sponsor of the Blockchain Futurist Conference and official hackathons ETHToronto and ETHWomen in Canada this August, where the Shibarium may likely be unveiled.

Meanwhile, the prices of Shiba Inu and Shibarium’s gas token BONE have rallied following the recent developments. At the time of writing, the SHIB token is trading at $0.0000077, showing a slight sideways movement over the last 24 hours. The 24-hour low and high prices have been $0.00000766 and $0.00000780, respectively.

Conversely, BONE, Shibarium’s gas token, is currently trading 3% higher at $1.27, with a 24-hour low and high of $1.22 and $1.29, respectively.

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Jane Smith
Jane Smith
As a Bitcoin Journalist, I am dedicated to reporting the latest developments in cryptocurrency, with a particular focus on Bitcoin. Through extensive research and interviews with industry experts, I provide accurate and up-to-date information on the ever-evolving world of cryptocurrencies. My goal is to help readers stay informed and make informed decisions regarding their investments in this rapidly changing field.
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