CDS Crypto News Shiba Inu Whale Has Moved 4.24 Million USD Worth of SHIB
Crypto News

Shiba Inu Whale Has Moved 4.24 Million USD Worth of SHIB

The Shiba Inu whale woke up and chose Hotbit.

1.9k
Shiba Inu Whale Has Moved 4.24 Million Usd Worth Of Shib

To the Hotbit cryptocurrency exchange, a Shiba Inu Whale transferred 499.6 billion SHIB worth 4.24 million USD.

Shiba Inu Whale Has Moved 4.24 Million USD Worth of SHIB

The whale awoke to clear out SHIB it had purchased at a higher price a year earlier after staying dormant for seven and a half months.

Awakening of the Whale

By mentioning that they were an early adopter of Shiba Inu, Twitter user Spot on Chain warned people about the awakened giant on Friday. SHIB was valued at less than 0.000002 USD when the wallet address in question was originally generated in April 2021.

Since then, gains from trading SHIB are thought to have totaled over 70 million USD at the wallet address that was most recently active. Most of those profits were realized in October 2021, when the token’s value spiked.

Hotbit Preferred, People Surprised

One of the most confusing elements in this move, which took place on Friday, was the preference of Hotbit because Hotbit had stopped its operations a while ago. Hotbit announced its closure, citing worsening operational challenges and dwindling cash flow.

“the Hotbit team believes that centralized exchanges (CEX) are becoming increasingly cumbersome, with highly complex and interconnected businesses that are difficult to comply with, whether for compliance or decentralization and are unlikely to meet long-term trends.

The Hotbit Team
Written by
lectertodd

Lectertodd is 27 years old. She graduated from Çankaya University, Department of Psychology, in 2021. She actively works as a writer, translator, and editor for various websites. Moreover, she loves reading, researching, and learning new things.

1 Comment

Related Articles

Sui Blockchain Faces First Major Outage: What Happened and What’s Next

Sui blockchain faces its first major outage—learn what happened, the impact on...

MicroStrategy Stock Reaches New High as Bitcoin Surges Above $98,000

MicroStrategy’s stock surged to a new all-time high as Bitcoin reached $98,000,...

Mysten Labs Resolves Sui Blockchain Outage, dApps Resume Functioning

Mysten Labs Resolves Sui Blockchain Outage, dApps Resume Functioning

Top 3 Cryptos on November 21: Qubetics Soars as Ethereum and Solana Face Resistance

Top 3 Cryptos on November 21: Qubetics Soars as Ethereum and Solana...