An eye-catching 4.55 trillion SHIB, equivalent to $31.5 million, has recently been relocated between anonymous wallets

Notable activity in the Shiba Inu (SHIB) cryptocurrency space was observed as an anonymous entity shifted an impressive 4.55 trillion SHIB, an equivalent of $31.5 million, according to data provided by Whale Alert.  

This monumental transaction aligns with a prevailing trend of significant SHIB transfers that have occurred over the past month.

The recent flurry of SHIB transfers 

The past month has seen a surge in large SHIB transfers. Just hours ago, a sum of 4.56 trillion SHIB, amounting to $31.76 million, moved between unidentified wallets. 

This adds to a series of notable transfers throughout October: on Oct. 17, 4.58 trillion SHIB ($31.63 million) was transferred; on Oct. 16, a transaction involving 4.59 trillion SHIB ($32.41 million) was executed; and on Oct. 11, 4.61 trillion SHIB changed hands at a value of $31.39 million. 

Additionally, two conspicuous transfers emanated from the Bitvavo exchange to undisclosed wallets, with 4.58 trillion SHIB ($33.13 million) on Oct. 5 and 4.60 trillion SHIB ($33.38 million) on Sept. 22.

SHIB price performance 

Currently, Shiba Inu (SHIB) is trading at $0.00000690, marking a 2.2% ascent. However, in comparison to major cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH), it has slid by 1.1% and 0.9%, respectively. 

The second most popular meme coin has underperformed the majority of major cryptocurrencies within the top 20 on CoinMarketCap. It remains in the 19th at press time. 

SHIB's market capitalization is pegged at around $4.07 billion, and its 24-hour trading volume stands close to $112.42 million. 

About the author

Alex Dovbnya

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at [email protected].