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In an eye-catching turn of events, data from Arkham Intelligence has revealed that an enigmatic whale investor has pulled out a staggering 40.47 billion SHIB, totaling an impressive $1.04 million, from the world's largest crypto exchange, Binance. The recipient of this substantial transfer is identified as wallet address "0xB4F."
What adds a layer of intrigue to this substantial withdrawal is the historical context. Records indicate that this is not the first colossal movement of SHIB for wallet address "0xB4F." A mere three months ago, the same address executed a transfer of 5.07 billion SHIB.
The source of these tokens was traced back to another mysterious wallet, now holding 27.616 billion SHIB, amounting to approximately $685,970. As it stands, wallet address "0xB4F" currently houses a jaw-dropping 45.54 billion SHIB, valued at around $1.13 million.
Next major level for Shiba Inu (SHIB)
The timing of this significant withdrawal aligns with an exciting period of price volatility within the Shiba Inu (SHIB) ecosystem. Over the past five days, SHIB has surged by nearly 20%, catapulting its value to $0.0000247. Analysis of the weekly chart highlights a notable resistance level of $0.00003, while the $0.00002 mark serves as a crucial support threshold, which SHIB revisited just last Wednesday.
Given the prevailing bullish sentiment on the cryptocurrency market, speculation is rife regarding the potential trajectory of SHIB's price.
With the looming possibility of breaching the $0.00003 resistance level, the withdrawal of such a significant volume of Shiba Inu tokens by an undisclosed whale appears to be a strategic move aimed at capitalizing on the anticipated uptrend.