Confidence building as Shiba Inu whale removes 1.72 trillion SHIB from Huobi
An anonymous Shiba Inu whale has withdrawn a large amount of SHIB from the Huobi cryptocurrency exchange.
According blockchain dataa total of 1,726,855,546,531 (1.72 trillion) SHIBs were transferred from an address on the Huobi exchange to an unknown wallet earlier today.
At the time of the transaction, the funds were worth $19.4 million. Despite the massive amount of Shiba Inu transferred, the user paid a paltry fee of $4.63 to move funds from the Huobi exchange to its destination.
Details of the transaction were also shared by Whale Alert, a cryptocurrency whale tracking service, on Twitter.
“1,726,855,546,531 #SHIB ($19,398,804) transferred from #Huobi to unknown wallet,” Whale Alert tweeted.
— Whale Alert (@whale_alert) October 7, 2022
At press time, SHIB is changing hands at $0.00001117 and is down 2.5% in value over the past 24 hours.
Whale interests in SHIB escalate
The development suggests that cryptocurrency whales are still interested in Shiba Inu. TheCryptoBasic covered reports involving the movement by whale investors of large amounts of SHIB.
The withdrawals come as Shib launched its first trading card game yesterday. This pullback shows the investor’s interest in keeping their shib out of the long-term trade.
As the value of SHIB has fallen 87% from its all-time high of $0.00008616, investors are still confident that the price of the cryptocurrency will rise again. The trust of the many initiatives aligned for dog-themed cryptocurrency. Interestingly, Shiba Inu, which initially debuted as a meme piece, has launched several projects that may increase its value.
Currently, Shiba Inu has a Metaverse Project, Non-Fungible Tokens (NFT), Decentralized Exchange (DEX), and Play-to-Earn game.
The Shiba Inu team is still working on launching other projects, including a stablecoin and Layer-2 network, to expand its usefulness.
Meanwhile, the development comes less than a day after Shiba Inu officially launched its long-awaited Play-to-Earn (P2E) game named Shiba Eternity. The game has been gaining momentum since becoming available for download on Android and iOS devices.
On the App Store, Shiba Eternity is currently the platform’s number one card game, while over 10,000 downloads have been recorded for the game on the Google PlayStore.
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