Binance transfers 137B Shiba Inu tokens: What’s behind the massive shift?

Quick Summary:

Despite a massive transfer of 137 billion Shiba Inu tokens by Binance, the SHIB market holds steady, unaffected by the significant shuffle in holdings.

This suggests that market reactions to external events such as the Binance transfer have been minimal, with the token continuing its typical volatility pattern.

Furthermore, as of this writing, neither Binance nor the Shiba Inu team has issued an official statement regarding the transfer.  This has yet to make the exact purpose of the transaction clear.

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Article Details

Author / Journalist: Adewale Olarinde

Category: Crypto

Markets: United States

Topics: News 1 Trading View Binance News Shiba Inu Social

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-13 @ 15:00:09 (12 hours ago)

News Timezone: GMT +8:00

News Source URL: ambcrypto.com

Language: English

Article Length: 535 words

Reading Time: 3 minutes read

Sentences: 28 lines

Sentence Length: 20 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © AMBCrypto

News ID: 22066146

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About AMBCrypto

Main Topics: Crypto

Official Website: ambcrypto.com

Update Frequency: 24 posts per day

Year Established: 2018

Headquarters: United States

News Last Updated: 8 hours ago

Coverage Areas: United States

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

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Website Security: Secure (HTTPS)

Publisher ID: #103

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