Shiba Inu Worth $16.56M Moved by Whales as Market Rebounds

Shiba Inu Worth $16.56M Moved by Whales as Market Rebounds
  • The sum of all SHIBs that have been transferred is estimated to be roughly $16.56 million.
  • This massive transaction allegedly occurred between Crypto.com and Binance.

After a year of volatility in the cryptocurrency market, prices have started recovering in recent days. Yesterday, there was a significant increase. The coins are still trading in the green, prompting optimistic forecasts for the year-end. Shiba Inu prices have gained marginally in the last day. As of this writing, the going rate for SHIB is around $0.000009302.

The recent failure of the FTX crypto exchange has resulted in heavy selling pressure for Shiba Inu (SHIB), the second biggest meme cryptocurrency in the world. Despite the recent events, a significant quantity of Shiba Inu has been traded on cryptocurrency platforms.

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According to Whale Alert, a total of 1.8 trillion Shiba Inu have changed hands in a number of different trades. The sum of all SHIBs that have been transferred is estimated to be roughly $16.56 million. This massive transaction allegedly occurred between Crypto.com and Binance.

In spite of the increasing uncertainty in the crypto industry owing to the FTX meltdown, Shiba Inu has maintained a market worth of over $4.9 billion. Considering all the hype surrounding the SHIB metaverse, this may be considered a massive move. SHIB developers, however, said that the ecosystem is still expanding and working together for better times ahead.

The post went on to say that Defi inventions open up new possibilities for society, while openly inviting participation from all crypto communities.

Shytoshi Kusama had released a survey to the public asking about the collaboration with the World Economic Forum. In this case, it is about the international MV policy. Moreover, over 62 percent of respondents prefer collaborating with WEF.

A trader himself, Rossi has 7 years of experience trading in the forex market and the passion for writing has brought him to Newscrypto. He is the perfect combination of market knowledge and writing skills, making him one of the most sought-after writers on cryptocurrency.