An intriguing development has surfaced: according to data from Arkham Intelligence, a mysterious whale investor has taken out an astounding 40.47 billion SHIB, or $1.04 million, from Binance, the largest cryptocurrency exchange in the world. This large transfer has a beneficiary named wallet address “0xB4F.”
The historical background of this significant retreat adds another level of mystery. Documents show that this is not the first massive SHIB movement for wallet address “0xB4F.” Just three months prior, 5.07 billion SHIB were sent to the same location.
These coins came from another unidentified wallet that is now holding 27.616 billion SHIB, or around $685,970. As of right now, wallet address “0xB4F” is home to an astounding 45.54 billion SHIB, which is estimated to be worth $1.13 million.
Next major level for Shiba Inu (SHIB)
This big withdrawal coincides with a thrilling time of high and low prices in the Shiba Inu (SHIB) market. SHIB has increased by about 20% in the last five days, propelling its value to $0.0000247. The weekly chart analysis indicates that there is a significant resistance level at $0.00003, and a critical support threshold at $0.00002, which SHIB tested only last Wednesday.
With the general positive attitude in the cryptocurrency space, there is a lot of conjecture about where the price of SHIB may go.
Given the likelihood of breaking over the $0.00003 barrier level, it would seem that the unidentified whale’s large-scale withdrawal of Shiba Inu tokens was a calculated action intended to profit from the expected upswing.
