Recent activities by Shiba Inu (SHIB) whales have stirred significant interest and speculation among investors.
These large holders have been transferring substantial amounts of SHIB from exchanges, raising questions about their intentions and the potential impact on the market.
In a notable move, Shiba Inu whales transferred a total of 2.55 trillion SHIB from exchanges. This includes 2.2 trillion SHIB, worth approximately $39.9 million, moved from Robinhood, and 353 billion SHIB, valued at $6.6 million, withdrawn from Binance.
Shiba Inu Whales Withdraw 2,553,827,943,318 SHIB from Exchanges https://t.co/QDMTspArgX
— đđđđđ | SHIB.IO (@LucieSHIB) June 21, 2024
Just yesterday, a smart whale made headlines by withdrawing 353.83 billion SHIB (worth $6.6 million) from Binance. This whale now holds a total of 838.87 billion SHIB, valued at $15.5 million, and has realized a profit of $6.12 million on their SHIB holdings.
A smart whale withdrew 353.83B $SHIB($6.6M) from #Binance 45 minutes ago and currently holds 838.87B $SHIB($15.5M).
The whale's profit on $SHIB is $6.12M.https://t.co/2knxKp4yEZ pic.twitter.com/05AQV2zqLw
— Lookonchain (@lookonchain) June 20, 2024
Crypto.com Integrates SHIB And Other Memecoins For Visa Card PaymentsÂ
The increasing popularity of Shiba Inu is also evident from its integration into mainstream platforms. Crypto.com has integrated SHIB and other meme coins for its Visa card payments, further boosting the visibility and utility of Shiba Inu.
This integration allows SHIB holders to use their tokens for everyday transactions, enhancing the coin’s appeal and adoption.
#SHIB Shiba Inu: CryptoCOM Includes SHIB For Visa Card Payments
POV : Keep working on adoption . We'll see it's benefits later eventually ! I want to see a viral game app using $SHIB as their currency or #Xpayment đhttps://t.co/ebGi8jENcq
— Lola (@CryptoLollla) June 20, 2024
These developments highlight the growing influence and acceptance of Shiba Inu in the cryptocurrency space.
The significant withdrawals by whales could be seen as a strategic move to hold their assets in more secure environments or prepare for future market actions. Meanwhile, the broader adoption of SHIB, facilitated by platforms like Crypto.com, suggests a positive outlook for the tokenâs future.
As Shiba Inu continues to gain traction, investors will be keenly watching the actions of large holders and the token’s integration into more financial services, potentially driving further interest and investment in SHIB.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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Image Source: nexusplexus/123RF // Image Effects by Colorcinch
