• Shiba Inu has been in the headlines lately due to its upcoming Shibarium upgrade.
• Recently, Whale Alerts noted several multi-billion SHIB transactions by Binance to an unknown wallet.
• Despite these transfers, SHIB’s price has not been affected and is currently surrounded by hype around its Shibarium L2 scaling solution and FCF’s added support of SHIB this week.
Shiba Inu Makes Headlines with Its Upcoming Shibarium Upgrade
Shiba Inu has recently been making headlines as the release of the Shibarium upgrade was teased by Shytoshi Kusama three days ago. This recent news has spurred excitement amongst investors as it could potentially bring great advantages to the ecosystem.
Binance Transfers Billions of SHIB Tokens to Unknown Wallet
Whale Alerts recently noted several multi-billion SHIB transactions by Binance to an unknown wallet. These recent transactions came after the Voyager altcoin transfers which included over 270 billion Shiba Inu coins worth over $3 million. Despite these transfers, SHIB’s price has not been affected yet and will likely remain steady in the coming weeks if no further suspicious activity is detected.
What Are Binance’s Recent Transactions For?
According to Whale Alerts’ recent tweets, 6.4 trillion SHIB were transferred in 14 separate transfers with six 499 billion SHIB transfers, two 450 million SHIB transfer and a single 370 million SHIB transfer. However, since these are only transfers, the price of SHIB has not been affected yet.
Voyager Transfers 270 Billion Shiba Coins Worth $3 Million
Voyager recently transferred 270 billion Shiba Inu coins worth over $3 million which could put downward pressure on the token’s price if sold in open markets. But so far, this doesn’t seem to be affecting investors confidence as they remain optimistic about the long term prospects for this meme coin.
External and Internal Developments Empower Bulls
As it currently stands, there is a lot of hype surrounding both external developments such as FCF’s added support for this token and internal developments such as its Shibarium L2 scaling solution which have all contributed positively towards increasing investor confidence towards this token resulting in a 17% uptick in its prices within just one week .