Shiba Inu (SHIB), a meme-inspired cryptocurrency, has recorded a remarkable $36 million transfer

This Monday, Shiba Inu (SHIB) saw a staggering $36 million transferred between anonymous wallets, according to Whale Alert data. The transfer has not had any significant impact on the price of the popular meme coin. 

A busy month for SHIB transfers

Throughout October, the SHIB community observed several large transfers, emphasizing the coin's continued attraction to substantial traders and investors. 

Just days ago, on Oct. 21, a whopping 4.5 trillion SHIB, equivalent to about $32.1 million, was moved from an undisclosed wallet to another. 

This was not an isolated incident. On Oct. 20, two separate transactions took place, transferring roughly 4.55 trillion SHIB and 4.56 trillion SHIB, valued at approximately $31.5 million and $31.75 million respectively. 

Earlier in the month, on Oct. 17, another transaction saw 4.57 trillion SHIB, or about $31.6 million, change hands. 

These sizable transfers provide a glimpse into the intense speculation surrounding the popular meme coin. 

Shiba Inu's market behavior 

As of now, SHIB is trading at $0.00000798, according to CoinGecko data. Despite the large sums being moved, the cryptocurrency has shown relatively stable behavior with a minor 0.3% drop over the past 24 hours. 

Its daily trading range is from $0.00000787 to $0.00000807, signifying relatively steady trading conditions. 

Shiba Inu boasts an impressive market capitalization of around $4.7 billion, with a daily trading volume nearing $139.7 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].