Major Player Transfers Nearly 200 Billion SHIB to Top Exchanges Amid Price Surge

An analytics account on the X social media platform, @OnchainDataNerd, reports significant SHIB transfers by trading firm Cumberland. Approximately 200 billion SHIB, worth millions, were sent to Coinbase and OKX. Despite these transfers, Cumberland's remaining SHIB is valued at $45,000.

Within 24 hours, various crypto whales have transferred a staggering 1.5 trillion SHIB, involving major exchanges like Binance, Kraken, and Gate.io.

Shiba Inu Price Movement

SHIB experienced a 3.52% loss over the past 24 hours but saw a 5.57% recovery today, reaching $0.00002419. Analysts anticipate a potential 20% upswing to $0.00002954 if SHIB breaks out of its descending parallel channel.

SHIB Burn Activity

Shibburn wallet tracker reveals a decline in burn activity, with only three burn transfers recorded in the last 24 hours, indicating a -91.94% decrease compared to the previous day.

Source: The Data Nerd (@OnchainDataNerd) on X platform.

Disclaimer: This news is for informational purposes only and does not constitute financial advice. Always do your own research before making any investment decisions.

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