200 Billion Shiba Inu Moved from Unknown Wallet to CryptoCom

The network recently observed the transfer of 200,010,000,000 (200 billion) SHIB tokens valued at $1,744,087 ($1.7M) from an unidentified wallet to an address connected to Singapore-based exchange Crypto.com, demonstrating that Shiba Inu (SHIB) whale movements have persisted lately despite market conditions.

The transaction took place today at 11:11 AM, according to data from Ethereum blockchain explorer Etherscan (UTC). The receiver wallet is identified as being related to the controlled exchange Crypto.com by the tag Crypto.com 5. The wallet with a balance of $2,089,643 has consistently received transactions from a number of wallets, including DEX Bibox and Coinbase accounts from the American exchange. Its primary asset is SHIB, which has a balance of $2,061,392 (236,398,272,911 SHIB).

On the other hand, as of press time, the sending wallet is still unknown. The wallet is now empty after the recent withdrawal of 200 billion SHIB; its remaining balance is $0.26 worth of ETH tokens. However, according to Etherscan statistics, the wallet has consistently received deposits from a number of exchange-affiliated accounts over the past few months, including wallets from Gemini, KuCoin, and Binance. However, all withdrawals go to wallets on Crypto.com.

Since there is now little information available about the transmitting wallet, it is not irrational to assume that it is affiliated with Crypto.com, just like the receiver wallet. The most Shiba Inu transactions have come from both wallets, demonstrating Crypto.com's apparent preference for SHIB. The Crypto Basic reported last month that the exchange disclosed through its Proof of Reserves statement that it possesses up to $558M worth of SHIB. Its holdings in SHIB were found to be greater than those of ETH.