Significant developments are unfolding for Shiba Inu, the largest memecoin after Dogecoin, with two major whale transfers capturing attention. These transactions have sparked interest among traders and investors, indicating a potential upward price movement for the SHIB cryptocurrency.
The recent surge in SHIB’s value aligns with substantial whale transfers that have stirred rumors in the crypto community. Additionally, optimistic news about SHIB burning last week has further fueled positive sentiment for the altcoin.
Whale Alert, a platform tracking large blockchain transactions, reported significant SHIB whale transfers. An unknown wallet transferred 579.04 billion SHIB to Binance, the world’s largest exchange by volume, valued at $5.88 million at the time of writing.
Another notable transaction involved SHIB transfers from Binance to OKX, totaling 499.99 billion SHIB worth $5.02 million. These large-scale transfers have raised the total SHIB moved to 1.07 trillion, sparking rumors and speculation in the broader market.
Shiba Inu’s price has jumped 5.63% in the last 24 hours, trading at $0.00001050, with a weekly increase of 8.49%. This upward trend is supported by significant developments, listing announcements, and burn updates from the community, suggesting a potential bull run for the token.