“These sudden whale movements are substantial enough to make waves in the market”
Crypto whales are at it again. This time, they're focusing their energies on Shiba Inu tokens.
Whale Alert, the blockchain watchdog, reports that a high-value trader recently shifted nearly 4.5 trillion Shiba Inu tokens.
This transaction is not small potatoes; we're talking about a value of just under $36 million.
‘Crypto whales’ are individuals or entities owning a substantial amount of a cryptocurrency, enough to make waves in the market.
In this case, a whale shifted these tokens from one anonymous digital wallet to another.
At the moment, the value of a single Shiba Inu token is $0.0000077.
Image: Kraken
Yes, you read that right; it's a number most calculators would struggle to display.
Meanwhile, in the same breath, another whale decided to dabble in Ethereum.
Approximately 150,000 Ethereum tokens were shifted from an anonymous wallet to the Kraken crypto exchange.
The total value here? Nearly $270 million.
Its tokens are currently valued at $1,803 each.
For now, the reasons behind these massive moves are shrouded in mystery. Speculations abound, but nothing is concrete.
In this unpredictable world of cryptocurrencies, the only constant is change.
And these whales? Well, they're the orchestrators of that change, whether we like it or not.
Disclaimer
Coinlive is dedicated to delivering impartial, clear-cut journalism. While this article strives for timely accuracy, we recommend that readers independently fact-check and seek professional advice before taking any action based on this material.
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Cointelegraph