The remarkable performance of Shiba Inu (SHIB) in January has sparked notable interest in the second-largest decentralized meme token.
As shown on the price-tracking platform Coinmarketcap, SHIB currently ranks among the top performers in the crypto market as the token shows an increase of over 54% in the last 30 days at the time of writing.
Notably, trillions of SHIB have been transferred today between two wallets affiliated with Binance, the largest blockchain ecosystem, and leading crypto trading platform.
Binance Shifts Trillions of Shiba Inu to a single wallet
According to Whale Alert, a top crypto tracking and blockchain analytics platform, approximately 1.8 trillion Shiba Inu tokens have been moved by Binance.
The timestamps of these transactions show that out of the total volume of Shiba Inu moved today, 1.35 trillion SHIB were shuffled within 10 minutes — which was between 16:34 UTC and 16:44 UTC — by the top-ranked exchange. Whereas roughly 450 billion SHIB valued at $5.8 million were moved by Binance about two hours ago (18:20 UTC) at the time of writing.
— Whale Alert (@whale_alert) February 2, 2023
Noteworthy is that all these tokens were sent from one wallet to the same location in four transactions carrying the same volume of SHIB. Both the sending and receiving wallets are related to Binance as shown on the blockchain explorer Etherscan.
Particularly, in each of the transactions, the volume was 499,999,668,412 SHIB. At the time of the execution, the first, second, and third transactions were valued at approximately $6.4 million each.
In the last 24 hours, SHIB recorded a surge of over 4%. It bears mentioning that Shiba Inu’s price increase seen in January was fueled by the update that the Shibarium launch is around the corner. TimesTabloid further shared how the launch of Shibarium would brighten SHIB’s fundamentals and set the meme token for a fresh meteoric price uptick.