2.4 Trillion SHIB Moved To Unknown Wallet: Bullish Wave Ahead For Shiba Inu?

Earlier today, a massive trove of SHIB tokens was relocated from Binance.US, the American subsidiary of the world's largest crypto exchange, Binance. These tokens, amounting to roughly 2.4 trillion according to WhaleAlert, have been transferred to an unknown wallet.

Timeline of Shiba-inu

Shiba Inu (SHIB) has witnessed a 24-hour surge in its burn rate despite the latest price consolidation plaguing the asset. The asset has continued to trade in a range after the drop below $0.000008.

Popular blockchain tracking service Whale Alert, which tracks large crypto transactions, has detected a massive amount of Shiba Inu meme coins moved from the Binance.US exchange. This transaction is worth no less than $18,771,570 USD.

In a major development for the popular meme-inspired cryptocurrency, Shiba Inu (SHIB) has secured a new listing on Coinone, one of South Korea's largest crypto exchanges. This strategic move is expected to amplify SHIB's presence in Asia and significantly boost its trading volume.

Shiba Inu News: 2.4 trillion Shiba Inu (SHIB) tokens were moved from BinanceUS to an unknown wallet, according to Whale Alert. Shiba Inu witnessed a rise in whale accumulation after lead developer Shytoshi Kusama announced the possibility of releasing the much-awaited Shibarium mainnet in August along with the Worldpaper.

Shiba Inu Price Analysis: In the weekly time frame chart, the Shiba Inu price shows the formation of a falling wedge pattern. Under the influence of this pattern, the coin price coverage within two downsloping trendlines suggesting the downward trend is reaching maturity.

Shiba Inu (CRYPTO: SHIB) was trading mostly sideways during Wednesday's 24-hour trading session, in tandem with Dogecoin (CRYPTO: DOGE) which was trading flat with an inside bar pattern. While Shiba Inu is also trading with an inside bar, the crypto has formed a symmetrical triangle pattern on the 24-hour chart.

According to data provided by the Shibburn platform, which tracks down SHIB burn transactions from Etherscan, the Shiba Inu community has made a significant effort to burn more SHIB.

The official Tangem Twitter account shared exciting news, confirming the imminent launch of the highly anticipated Shiba Inu wallet. According to the tweet, early customers can expect to get their hands on these cutting-edge wallets as early as next week.

Shiba Inu remains at a decisive point as bulls and bears tussle to gain control of the SHIB price. IntoTheBlock's In/Out of the Money Around Price (IOMAP) offers an idea as to what is happening behind the scenes for the SHIB price and where bulls and bears currently stand.

Dogecoin (CRYPTO: DOGE) rival Shiba Inu (CRYPTO: SHIB), has witnessed a rise in the crypto market throughout 2021; however, it has experienced a significant decline from its all-time high. What Happened: A fascinating aspect of this cryptocurrency is that owning less than $10 worth of SHIB can actually get you over a million SHIB tokens, as Shiba Inu is currently trading at approximately $0.000007819.