Mysterious Ethereum Whale Moves 3.3 Trillion Shiba Inu ($SHIB) in Eye-Popping Transaction

A mysterious Ethereum ($ETH) whale has moved a whopping 3.3 trillion tokens of the meme-inspired cryptocurrency Shiba Inu ($SHIB) in an eye-popping transaction that saw the funds relocated to an unknown wallet.

The whale’s funds seem to have originally come from a wallet that also holds around $750,000 in the network’s native currency, $ETH, since around October 2022. The new wallet only holds $SHIB, which suggests the whale has been moving their funds across various wallets to keep the funds away from the eyes of bad actors.

Its large $SHIB transaction notably moved around $38.2 million worth of cryptocurrency for a transaction fee of 0.000664, equivalent to around $1.06 at the time of writing. As reported, Shiba Inu has led the “trending” charts on popular crypto aggregator websites after it was listed on one of South Korea’s largest crypto trading platforms by volume.

Seoul-based exchange Upbit, which has been registering more trading volumes than any other exchange in the country after Binance, recently revealed the listing of a $SHIB pair trading against the South Korean Won (KRW).

The largest whales of the Ethereum ($ETH) network have accumulated around $85 million of $SHIB ahead of its layer-2 scaling solution’s launch, and at a time in which the meme-inspired cryptocurrency partnered with the North American luxury brand Bugatti Group involved the minting of non-fungible tokens (NFTs) in a “special event” in which the Bugatti Group hosted a “mint party and space” dedicated to Shiboshis.

According to an account associated with the meme-inspired cryptocurrency, the special mint collection “sold out in the first 4 minutes” of the event as demand for the tokens far exceeded supply.

Moreover, $SHIB’s layer-2 network Shibarium is set to launch in the near future. The network will run on top of Ethereum and is designed to deliver faster transactions at a lower cost, among other important improvements.

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Featured image via Pixabay.

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