Shiba Inu (SHIB) whales are at it again, with large transactions involving the meme coin recorded lately. These high-volume transactions have piqued the interest of other investors, who have deliberated on whether this could be the perfect opportunity to accumulate the meme coin. 

Shiba Inu Whale Transfers 2 Trillion SHIB Tokens 

On-chain analytics platform Whale Alert revealed in an X (formerly Twitter) post that 2 trillion SHIB were transferred from a Kucoin-linked wallet (Kucoin 6) to another Kucoin-linked wallet (Kucoin 20). Interestingly, this came amidst the charges leveled against the exchange and its founders. 

On-chain data further revealed that the receiving wallet began to transfer these SHIB tokens across different wallets. While the nature of the transactions remains unknown, the troubled crypto exchange may have made these transfers to meet customers’ demands. 

If so, that signifies a bullish sentiment among SHIB whales, who still want to purchase as much of the meme coin as possible. For instance, the Kucoin 20 wallet, which received the 2 trillion SHIB tokens, transferred over 35 million SHIB to an unknown wallet, and that wallet hasn’t moved the SHIB tokens since then, which suggests they could be long-term holders. 

Bitcoin is now trading at $70.012. Chart: TradingView

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Author: Scott Matherson

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