Shiba Inu whale transferred nearly 92 billion SHIB to Indonesian exchange
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A Shiba Inu whale transferred more than 91 billion SHIB into a wallet belonging to Indonesian crypto trading platform Indodax, at a time when the price of SHIB was falling.
According to data from the Ethereum blockchain, a whale that currently has over $4.5 million worth of digital assets in its wallet recently transferred nearly 92 billion SHIB tokens, worth about $1.1 million, to SHIB tokens. exchanges.
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The transaction comes at a time when the price of this meme-inspired cryptocurrency is steadily declining after rising more than 50% year-to-date. Over the past week, the SHIB price has dropped more than 8%.
The whale's transaction was transferred to a wallet linked to Indodax, an Indonesian cryptocurrency exchange.
In his wallet, the whale still holds 296 million Polygons ($MATIC) worth over $360,000 and 55 million Smooth Love Potion ($SLP), worth over $180,000.
Notably, most Shiba Inu investors have indicated they have no plans to sell in bulk, as the average time that Coinbase users hold SHIBs has exceeded 230 days.
The number of Shiba Inu owners has increased ahead of the expected launch of Shibarium, a layer 2 solution. However, there are still many questions surrounding the release and utility of Shibarium.