Unexpectedly, in the last 24 hours, about half a billion Shiba Inu tokens have set out on enigmatic adventures.
Blockchain researcher Etherscan reports that the mysterious transactions were started by an anonymous Shiba Inu bearer using the address “0xEb4”. This individual sent an astounding 307.88 billion SHIB, or an astounding $2.8 million, to Coinbase.
Examining the transaction history in more detail indicates that this address purchased Shiba Inu tokens from the same exchange more than a month ago. As the story gets more complicated, there is a massive transfer using a new unknown address, “0x3db.” This time, Coinbase removed 182,24 billion Shiba Inu tokens—worth $1.66 million—overnight.
It should be noted that this address has already made SHIB withdrawals from the American exchange; its initial transactions, which totaled more than 30 billion Shiba Inu tokens—roughly a quarter of a million dollars—took place just six days ago.
Shiba Inu (SHIB) price action
The cryptocurrency’s price fluctuations continue to captivate the wider market, even as these unidentified Shiba Inu holders participate in actions that may be considered token-related.
After making a strong 6% comeback from the Jan. 23 decline, the SHIB price is back at $0.000009. The present price pattern is interpreted by analysts as an accumulation period characterised by very low volatility.
Even still, the general consensus among dealers and aficionados appears to be very subdued, and the strange token transfers provide mystery to the Shiba Inu story.
