Investing.com - Financial Markets Worldwide
Get 40% Off
Get 40% Off
🤯 Perficient is up a mind-blowing 53%. Our ProPicks AI saw the buying opportunity in March.Read full update

SmartMoney Transfers 182 Billion SHIB to Crypto.com and Gemini

Published 02/27/2023, 09:21 AM
Updated 02/27/2023, 09:30 AM
SmartMoney Transfers 182 Billion SHIB to Crypto.com and Gemini

  • An anonymous whale has transferred 182 billion SHIB to Crypto.com and Gemini.

  • The last time the whale moved SHIB, the price dropped by 7%.

  • However, the recent movement hasn’t affected the price of Shiba Inu.

According to the latest on-chain data shared by Lookonchain, an on-chain analyst, a SmartMoney that was earlier identified by Lookonchain has moved 182 billion SHIB. The $2.3 million worth of Shiba Inu was moved to Crypto.com and SHIB.

This SmartMoney was earlier identified by Lookonchain, where the user transferred 200 billion SHIB to Crypto.com on December 20, 2022. Following the transfer in December, the price of SHIB dropped by 7%. However, the recent transfer hasn’t affected the price of the meme coin. At press time, Shiba Inu is trading at $0.00001273, with a 2.4% gain in value over the last 24 hours.

According to the findings by Lookonchain, SmartMoney purchased 15.28 trillion SHIB on August 7, 2020, for 10 ETH. The purchase was worth around $3,796. The user was also identified as having made over 1,967 ETH by buying and selling SHIB on Uniswap.

Lookonchain also identified that the SmartMoney usually buys SHIB when the price is low and sells it when the price spikes. The wallet currently holds 3.15 trillion SHIB, which is worth around $40 million at press time.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

Whales have always had a keen interest in meme coins, including SHIB. The whales regularly performed buy and sell actions whenever the price fluctuated. Shiba Inu is also quite known for its volatility, which is being utilized by the whales to make quick profits.

Shiba Inu has performed relatively better in 2023, with a 60% spike in value over the last 60 days. With Shibarium expected to launch soon, the community expects the price to soar.

The post SmartMoney Transfers 182 Billion SHIB to Crypto.com and Gemini appeared first on Coin Edition.

See original on CoinEdition

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.