Lookonchain Reveals Stunning SHIB and DOGE Transactions: Are They Linked? By CoinEdition

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Lookonchain Reveals Stunning SHIB and DOGE Transactions: Are They Linked?

Published May 17, 2023 01:50PM ET Updated May 17, 2023 02:00PM ET

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Lookonchain Reveals Stunning SHIB and DOGE Transactions: Are They Linked?

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The 5th largest holders of SHIB and DOGE might be linked.

A wallet with the address “0x73AF” transferred 20 trillion SHIB tokens.

Ethereum influx amplifies SHIB & DOGE coin puzzle.

Lookonchain, a blockchain analytics platform, has speculated a correlation between two of the most popular meme coins in the crypto space: Shiba Inu (SHIB) and Dogecoin (DOGE). The 5th largest holders of SHIB and DOGE might be linked, with solid indications pointing towards the involvement of renowned trading firm Jump Trading or one of its partners.

Just 12 hours ago, a flurry of significant transactions allegedly took place, sending shockwaves through the crypto community. Lookonchain’s analysis shows that a wallet with the address “0x73AF” transferred 20 trillion SHIB tokens, equivalent to a whopping $176 million, to the address “0x40B3.” Consequently, “0x40B3” swiftly ascended to become the 5th largest holder of SHIB.

1/ Sharing some interesting findings on $SHIB and $DOGE.The 5th holder of $SHIB and the 5th holder of $DOGE seem to be the same person, either Jump Trading or a partner of Jump Trading.Holding 20T $SHIB($176M) and 3.4B $DOGE($248M). pic.twitter.com/6DRz7RG3Yh
— Lookonchain (@lookonchain) May 17, 2023

Simultaneously, another event unfolded in the DOGE realm. A separate wallet, “DDuX,” executed four transactions, transferring 3.4 billion DOGE, amounting to $248 million, to the address “DEgD.” As a result, “DEgD” swiftly rose to claim the coveted 5th spot among DOGE holders.

2/ 12 hrs ago, "0x73AF" transferred 20T $SHIB ($176M) to "0x40B3" in 4 transactions, and "0x40B3" became the 5th holder of $SHIB.Almost at the same time, "DDuX" also transferred 3.4B $DOGE ($248M) to "DEgD" in 4 transactions, and "DEgD" became the 5th holder of $DOGE. pic.twitter.com/DnZn0yipGj
— Lookonchain (@lookonchain) May 17, 2023

The plot thickens as Lookonchain’s observation reveals a connection between the SHIB and DOGE transactions and a massive Ethereum (ETH) influx. “0x73AF” received a staggering 310,000 ETH, valued at $563 million, from two wallets associated with Jump Trading, namely “0x0716” and “0xeA3e.” These wallets are suspected to be internal addresses belonging to Jump Trading or its trusted partners.

3/ "0x73AF" received 310K $ETH ($563M) from Jump Trading "0x0716" and Jump Trading "0xeA3e", which may be the internal address of Jump Trading or a partner of Jump Trading. pic.twitter.com/dAZ6ofjMNy
— Lookonchain (@lookonchain) May 17, 2023

With all eyes fixated on SHIB and DOGE, the stage is set for an exciting chapter in the ongoing saga of meme coins.

The post Lookonchain Reveals Stunning SHIB and DOGE Transactions: Are They Linked? appeared first on Coin Edition.

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Lookonchain Reveals Stunning SHIB and DOGE Transactions: Are They Linked?

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