Large Shib token transaction is excited by Shiba Inu community-is the meme coin facing an upswing?

Large Shib token transaction is excited by Shiba Inu community-is the meme coin facing an upswing?

Remarkable transaction: Large stock of Binance.

A remarkable transaction was announced this morning, in which a large inventory of Binance. According to Whale Alert, a blockchain tracking and analysis provider, this transaction was around 2.4 trillion shop tokens worth around $ 18.77 million at the time of transmission.

This movement of the Shib tokens attracts special attention because it takes place at the same time as the announcements by Shytoshi Kusama, the main developer of Shiba Inu, about the upcoming publication of Shibarium Mainnet and World Papers in August. This upcoming publication provided great anticipation at the Shiba Inu community.

Some see this transaction as a positive sign and interpret them as an indication that large investors, also known as “whales”, want to acquire Shib-token and keep it in the long term. This is signaled by the shift of the Shi's assets to an unknown private wallet.

A precise analysis of the Etherscan data shows that Binance.Us has also moved tokens to a wallet address with the designation 0x058a in the past few days. Interestingly, this wallet contains a mixture of 69 different tokens with a total value of $ 72.62 million. This leaves space for speculation about the intentions behind these movements.

The Shiba Inu community has discussed this monumental transaction vividly, whereby many members suspect that this activity is related to the upcoming publication of Shibarium. This speculation further fueled the anticipation for the events in August.

Despite the uncertainty about the exact goal behind the token movement, Shiba Inu could actually be closer to an upward wave in view of the fundamental key figures. Shytoshi Kusama, the leading developer of Shiba Inu, announced at the beginning of the month that the Shiba Inu Ecosystem will be the title sponsor of Blockchain Futurist Conference, ETH Toronto and ETH. These events in August could serve as a catalyst for another rally of Shiba Inu meme coins.

In the past few weeks, Shib has developed well and has broken several levels of resistance. The current trading price is $ 0.00000782, which corresponds to an increase of almost 5 % compared to the previous week. The market capitalization of Shib is currently $ 4.6 billion and occupies 16th place in the ranking of cryptocurrencies after market capitalization.

In addition, Shib's trading volume has a significant increase in the past seven days and has increased from $ 74.4 million to $ 87 million in the last 24 hours alone. This upward trend is partly due to the wider cryptoma market, which is led by Bitcoin's youngest rally.

The future of Shiba Inu remains interesting because the anticipation for the upcoming publication of Shibarium continues to increase. The reaction of the market to this transaction and the subsequent developments are eagerly awaited.