1.362 Trillion SHIB Moved to an Unidentified Wallet

Shiba Inu (SHIB), a cryptocurrency noted for its meme-inspired origins, has seen price volatility. Nonetheless, the project has made tremendous progress in its utility and development efforts. Shiba Inu distinguishes itself from other meme coins by actively participating in development activities and providing regular updates to its community.

Also read: Pepe Coin Price Plunges By 17% Amidst Sell-Off

In terms of pricing, SHIB has made little improvement. Over the last seven days, the second-largest meme coin fell by 3.4%. In one of the most shocking revelations made by the Arkham blockchain intelligence platform, a large transaction involving 1.362 trillion SHIB has been identified. The transaction, which occurred in less than 24 hours, moved trillions of Shiba Inu to an unidentified wallet.

The value of the moved Shiba Inu stands at around $10 million

According to the current price of SHIB, the fund’s current value stands at around $10 million. Additionally, the unidentified wallet not only holds SHIB but also various cryptocurrencies worth over $80 million. However, one key thing to note is that SHIB accounts for over 10% of its portfolio.

Also read: 24 CBDCs Expected to Go Live by 2030: Survey

The movement hasn’t affected the price of SHIB significantly. According to CoinMarketCap data, SHIB is trading at $0.000007524, with a 0.7% drop in value over the last 24 hours. The 24-hour trading volume has also plummeted by 23% during this period.