A mysterious Shiba Inu (SHIB) whale is abruptly on the move, redistributing trillions of tokens just as the leading memecoin begins to show signs of life.
Monitoring utility for blockchain technology Whale Alert was the first to discover the enormous Shiba Inu transaction.
According to Whale Alert, the large entity in issue transferred more than $40 million worth of SHIB from an unknown wallet to another unknown wallet.
The investor with deep pockets paid less than $3 to relocate the large SHIB trove worth tens of millions of dollars.
Blockchain-tracking website Etherscan shows that the SHIB stack remains in the control of the receiving wallet.
Shiba Inu is trading $0.00001147 at time of writing, The top meme crypto asset is up nearly 7% from its seven-day low of $0.00001074.
The large Shiba Inu transaction comes as lead SHIB developer Shytoshi Kusama issues a warning to other crypto projects using his name and large following to promote their own tokens. Kusama also says that market participants should be on the lookout for coins claiming to be the official token of the layer-2 Shibarium project.
“I am not affiliated with any token using my name or likeness unlawfully. DYOR (Do your own research) and don’t get scammed. Likewise there is no (official) Shibarium token; Shibarium is an L2 blockchain so any you see are super [suspicious]. Need I go on SHIB army?”
