Nearly 25 trillion Shiba Inu SHIB USD token, worth a quarter of a billion dollars, have been safely moved off one of the coin exchanges and placed in cold storage, according to new on-chain data.
What Happened: 24.9 trillion SHIB token was transferred by an unknown ETH USD address into a self-custody wallet from the Crypto.com exchange in over 6 transactions.
Santiment said that the mysterious whale has been stockpiling ETH since March. The third-largest concentration of Shiba Inu token is now in the world, according to the new address.
According to Santiment, the whale has been rapidly accumulating ETH since the beginning of March.
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It appears that the SHIB token is being segregated from a new wallet, or a large holder whale is transferring their token. The exact nature of the transaction is not known.
The CEO of Cryptocurrency.com, Kris Marszalek, said that they would be balancing several assets across new addresses as part of their usual custody operations to ensure continued safety and security. Price Action: SHIB was trading at $0.000010 at the time of writing, down 0.82% in the last 24 hours, according to Benzinga Pro.