3.5 Trillion SHIB Moved as Abnormal Shiba Inu Transaction Spike Continues

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Crypto tracker Whale Alert has reported that over an hour ago, an unknown wallet transferred a mind-blowing amount of Shiba Inu to another address marked by the tracker as anonymous.

A massive chunk of SHIB was moved a day earlier by an anonymous whale. Earlier this week, U.Today reported that the Shiba Inu network saw an enormous rise in Shiba Inu daily transactions.

$40 million in SHIB moved by whale after daily transaction spike

The aforementioned wallet transferred a total of 3,504,812,794,902 Shiba Inu evaluated at $40,063,515 at the time of the transaction. A day before, a whale shoveled 6 trillion SHIB in three staggering transactions detected by Whale Alert. The transactions stood just minutes apart from each other.

Whale Alert did not provide an explanation for those massive transfers, so it was likely a redistribution of funds either by exchanges or by an individual holder. The same goes for today’s transaction of SHIB.

On April 1, the Shiba Inu network witnessed a record high in the number of daily transactions – the highest level since the start of 2023. On that day, slightly under 36,000 unique SHIB addresses made transactions on the SHIB network.

SHIB price spikes, following DOGE

Over the past 24 hours, the second largest meme token, Shiba Inu, demonstrated a rise of over 8%. It started with a massive green candle on an hourly chart on April 3 after Dogecoin did the same. Doge jumped high after Musk had the Twitter logo changed from the blue bird to DOGE.

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Crypto influencer David Gokhshtein, who is known to “vibe well” with the meme coin communities of SHIB, DOGE and FLOKI, shared a hope that perhaps after this, Dogecoin may indeed become the currency of Twitter. As this app has over 400 million daily users, even 20% beginning to utilize DOGE for tipping/micropayments there, would already make a huge difference for the crypto community.

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Besides, in another tweet, he highlighted his earlier thought about DOGE and other meme coins bringing new retail investors into the major cryptocurrency: “It was DOGE that brought new people into Bitcoin during the last bull run.”