Whale removed over 800 billion SHIB from ShibaSwap in one transaction.this is the meaning

According to data from top blockchain analytics platforms Whale Alert and Etherscan.io, a large whale has withdrawn a whopping 800,215,912,624 Shiba Inu tokens from the Shibaswap DEX in a single transaction.

The Shiba Inu (SHIB) whale now holds 1.01 trillion SHIB tokens, worth approximately $11.28 million at press time. Notably, the whale ranks 54th in the ranking of wallets with a large amount of Shiba tokens.

While the purpose of the massive token unstaking remains undisclosed, whales may dump these SHIB tokens, especially now that meme tokens seem to be gaining momentum.

It is worth mentioning that at the time of writing, the unstaked 800 billion SHIB tokens have not been moved from whale wallets. In the case of assets being sold off, the price of SHIB may drop in the short term.

Meanwhile, the price of SHIB fell sharply on Wednesday after bankrupt cryptocurrency lender Voyager Digital transferred 270 billion Shiba Inu tokens to Coinbase.

Since Feb. 14, Voyager has been transferring billions of tokens to the same exchange and others, including Binance.US. Presumably, the insolvent cryptocurrency company has been offloading assets from its balance sheet to address user issues.

At the time of writing, SHIB was up just 2.53% over the past seven days. But with the launch of Shibarium, Shiba Inu’s layer-2 scaling solution, the price of the second-largest meme token could see a massive rally.

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Source of information: Compiled from TIMESTABLOID by 0x Information.The copyright belongs to the author Ndianabasi Tom, and shall not be reproduced without permission

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