An unidentified whale exchanged many trillion Shiba Inu meme coins during the course of the previous day, according to information provided by well-known cryptocurrency tracking website Whale Alert.
While the price of SHIB has been rising and the rest of the cryptocurrency market is declining, he has done that.
4.1 trillion SHIB on move
A staggering 4,113,777,233,445 Shiba Inu coins were reportedly transferred from one anonymous wallet to another about 22 hours ago, according to Whale Alert.
A whale or a cryptocurrency exchange may have redistributed some of its Shiba Inu holdings to a new wallet in this case. In the cryptocurrency world, both actions are frequently taken.
U.Today earlier observed that approximately 5 billion Shiba Inu meme tokens were being removed in bulk from cryptocurrency exchanges. To the KuCoin exchange, slightly more than 1 billion SHIB were deposited.
SHIB bullish price action
Shiba Inu, the second-most popular meme cryptocurrency, has increased by 8.65% over the previous day, rising from $0.00000773 to the $0.00000840 mark, where it is currently trading.
The increase happened when Ripple partially prevailed over the SEC in court, sending the price of XRP rocketing to a 100% top. The increase in the Ripple-related cryptocurrency boosted the values of all cryptocurrencies, most notably Bitcoin and Ethereum. One of the alternative coins that saw a large increase was SHIB.
As traders started to liquidate their crypto holdings in order to lock in profits, XRP, along with XLM, ADA, and other leading cryptocurrencies, have already lost more than 16%. Shiba Inu continues to grow in the green zone, in contrast to other digital currencies.
Here’s what is still holding SHIB up
The leader of the SHIB development team, the fictitious Shytoshi Kusama, recently unveiled a redesigned website for Shiba Inu and its environment, which is another factor contributing to the SHIB price’s continued upward trend.
All significant SHIB-branded initiatives, such as the ShibaSwap DEX and SHIB Metaverse, are now included on the website. It offers connections to the websites of the recognised SHIB partners, including the Bad Idea AI token and the Italian fast food business Welly’s.
On the website, it has also been revealed that the first chapter of the “Worldpaper”—a broad version of the “white paper”—will soon be published.
The new website’s debut is being celebrated by the Shiba Inu community. In a recent tweet, Kusama also expressed his enthusiasm for the impending debut of the “Worldpaper,” according to U.Today.
