A deep-pocketed Shiba Inu (SHIB) trader is suddenly moving trillions of SHIB out of a Netherlands-based crypto exchange platform.
New data from whale-surveying platform Whale Alert reveals that the Shiba Inu whale has shifted 4,584,530,677,374 SHIB, worth about $33 million, out of Bitvavo and into an unknown wallet.
According to Ethereum (ETH) blockchain explorer Etherscan, the transfer occurred during the early morning hours of October 5th.
The movement of SHIB comes a week after the Shiba Inu development team advised investors to do their own research and be wary of suspicious actors claiming to be a part of the SHIB ecosystem.
At the time, the SHIB team said that just because someone or an entity is using the name “Shibarium,” which is the name of the ecosystem’s recently launched layer-2 scaling solution, it doesn’t mean they are associated with the project.
According to the SHIB team, all official partnerships would be announced either through the ecosystem’s Discord channel or official blog.
Earlier in September, the SHIB ecosystem experienced rapid growth after the highly anticipated launch of Shibarium, leading to a spike in staking for Bone ShibaSwap (BONE), the digital asset used to pay the layer-2’s gas fees.
At the time, data from SHIB blockchain tracker Shibariumscan found that the total number of transactions over Shibarium surpassed 2.5 million. Data from the layer-2 scaling solution revealed that over 27 million BONE was staked.
SHIB is trading for $0.000007 at time of writing while BONE is moving for $0.795.
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Featured Image: Shutterstock/Pair Srinrat/karnoff
