Shiba Inu News: Whale Alert on Friday reported that 4 trillion Shiba Inu (SHIB) tokens worth millions were moved from Shiba Staking to crypto exchange Binance.
The massive unstaking of Shiba Inu tokens raised speculation in the community about whether the SHIB price to witness another liquidation.
Shiba Inu (SHIB) Tokens Worth $32 Million Transferred to Binance
Whale monitoring system Whale Alert in a tweet on June 9 revealed that 4,000,379,151,023 Shiba Inu (SHIB) tokens worth $31,709,005 were released from staking and transferred to Binance.
The Shiba Inu community reacted to the massive transfer to Binance, speculating whether a price drop is coming. Typically, unstaking events of millions of SHIB tokens are normal. However, trillions of SHIB unstaking in a single transaction raise uncertainty as SHIB tokens could be dumped to exchange.
The Shiba Inu community currently awaits the Layer-2 blockchain Shibarium mainnet launch, expected at the end of the year. Lead developer Shytoshi Kusama has hinted at the Shibarium launch soon but a lack of updates on the major event impacted SHIB and BONE prices.
Meanwhile, developers are working on other related projects including Shiba Inu Metaverse, cold wallet, and SHIB burn.
Also Read: US House Releases Stablecoin Bill To Bring Clarity & Giving Fed Authority
Shiba Inu and BONE Prices Reacts to News
SHIB price fell 7% this week and 15% in a month. The price is currently trading at $0.00000798. The 24-hour low and high are $0.00000789 and $0.00000800, respectively. Furthermore, the trading volume has decreased by 21% in the last 24 hours, indicating a decline in interest among traders.
Meanwhile, BONE price fell 2% in the last 24 hours, with the price currently trading at $0.79. The 24-hour low and high are $0.794 and $0.810, respectively. The trading volume has decreased by 21% in the last 24 hours.
Whale holdings for both SHIB and BONE have reduced, but retail holdings have increased, according to on-chain data.
Also Read: Binance To Temporarily Suspend All Crypto Margin And Earn Related Services
- Senate Banking Committee Releases Updated Draft Crypto Market Structure Bill
- Michael Saylor’s Strategy Fails To Make S&P 500 Listing, MSTR Stock Drops
- Solana Treasury Company SOL Strategies Gets Approval To List On Nasdaq
- Fidelity, Grayscale, VanEck Dump Ethereum Amid ETH Price Crash
- Ethereum Treasury Firm SharpLink Confirms Compliance Amid Nasdaq Oversight
- Chainlink Price Eyes $55 as Reserve Holdings Jump With 43,937 LINK Addition
- Cardano Price Targets 30% Surge as Top Economist Calls for Fed Cut
- ETH Price Forecast as Grayscale’s Covered Call Ethereum ETF Spurs Optimism — Is $8,500 in Sight?
- Bitcoin Price Prediction as SEC Unveils Agenda for Crypto Regulation — Is $200K Next?
- ONDO Price Prediction Amid Bitget Collaboration on Tokenized Stocks and ETFs: Is $2 Next?