The WhaleAlert tracker has reported that trillions of Shiba Inu tokens have once again been seen in action, which has attracted the attention of SHIB fans. This comes barely 24 hours after a big withdrawal of SHIB tokens from the Bitvavo market.
The last deal involved the transfer of a substantial 4.62 trillion SHIB, or almost $35.7 million. It is noteworthy that the transfer was made from Bitvavo to an unidentified wallet. Examining the explorer data, however, demonstrates that this is indeed a newly established address linked to the exchange itself.
Although Bitvavo occasionally employs unidentified wallets, it is important to note that, according to Arkham Intelligence, the exchange’s confirmed wallets only contain a small 250 million Shiba Inu tokens, valued at about $1.93 million.
Purpose
The fact that these billions of SHIB appear to remain at these freshly established addresses, with no obvious indications of being moved to other exchanges for liquidation, adds mystery to the scenario. The community has begun to speculate as a result of this behaviour, with some saying that these actions have more to do with storage and distribution than with impending sell-offs.
The key query is still unanswered as the community waits for further information: What does it mean that billions of SHIB have vanished from the exchange, and how can this affect the future of the Shiba Inu token? For developments as this story develops, keep checking back.
