The inventor of Tron, Justin Sun, has taken an unexpected turn of events and significantly withdrew Shiba Inu (SHIB) tokens once more, casting even more doubt on his intentions. According to a tweet from blockchain security company PeckShieldAlert, Sun has now transferred almost 77 billion SHIB tokens from Binance, worth at about $810,000, after making a huge withdrawal of 500 billion SHIB earlier this week.
https://x.com/PeckShieldAlert/status/1737024005574627333?s=20
The latest withdrawal, as previously reported by U.Today, is the latest in a string of noteworthy transactions that Sun has arranged recently. A total of 127,510 Chainlink (LINK) tokens valued at $1.85 million, 202,385 Storj (STORJ) tokens valued at $200,000, 53.68 billion Pepe (PEPE) tokens priced at $76.7K, and 13,904 dYdX (DYDX) tokens valued at $43,000 are among the tokens that were removed from Binance.
Justin Sun’s strategic shift
Sun originally revealed his unexpected intention to enter the meme currency and promising project space on May 11, when he made the announcement on X (formerly Twitter). Sun said in a tweet that he has made the decision to start trading meme coins and a few other exciting initiatives through his public address.
The cryptocurrency community is already conjecturing about Justin Sun’s motivations and the possible effects of this move on the market. While some observers worry about the lack of transparency and the hazards connected with such high-stakes transactions, others think that Sun’s active engagement in trading these tokens might affect their pricing and market dynamics.
At $0.00001045, the value of the Shiba Inu token—the main target of Justin Sun’s recent withdrawals—has increased by 4.80% in the past day. Investors and market experts will probably be closely observing SHIB’s price changes as well as Sun’s significant withdrawals, trying to figure out the reasons behind these calculated actions.
