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Data shared by on-chain data aggregator Arkham Intelligence shows that over the past few hours, several massive chunks of Shiba Inu canine-themed coins have been transferred by anonymous holders.
Cumulatively, Arkham noticed that almost 20 billion SHIB have been set moving. This coincided with Shibarium reaching a new high of daily transfers and several price moves of SHIB.
Arkham Intelligence has spotted several major transactions carrying hefty amounts of Shiba Inu. Among them, 1.5 billion SHIB were deposited to the KuCoin exchange, and one billion SHIB went to OKx. Billions of SHIB were also sent by whales as they transacted their funds from one cryptocurrency exchange to another – from Binance to BTCTurk and also from Binance to Gate.io.
Around 10 billion SHIB from the aforementioned 20 billion were moved by the Binance and Bybit exchanges internally.
The leading meme cryptocurrency Shiba Inu and the second largest in terms of market capitalization value have been striving to break through the $0.000009 ceiling over the past two weeks. It managed to reach this level on Monday and Tuesday this week; however, the SHIB price kept bouncing back and declining after that.
Today alone, SHIB has demonstrated a fall by over 3%, hitting the local low of $0.00000946. Over the past 24 hours, the decline has constituted 4.70%.
Since Friday, the price plunge has constituted 5.44% after SHIB managed to burn a zero three times last week and reach the $0.00001 level but falling back below it every time after the much-awaited price rise.
Meanwhile, the Shibarium network is providing the necessary conditions for a price surge - the layer-2 blockchain has seen a record rise in the daily transaction level - today this transfer count has finally surpassed four million, now sitting at 4.21 million transactions.
This metric has added 1.21 million transfers over the past 24 hours, according to an earlier U.Today report. Overall, the number of daily transfers has been rising quite fast recently - from 526,000 on Feb. 9 to 1.07 million on Feb. 16 and 4.21 million today. The overall transaction count has also increased by over four million within the last 24 hours, reaching a total of 364,480,402 by now.
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