The crypto market was shocked today when Justin Sun's wallet was found to be withdrawing a large amount of SHIB tokens from Binance. Withdrawals from Binance occurred in two transactions, with a total of 577 billion SHIB from the crypto exchange.
Interestingly, this withdrawal transaction is seen to have sparked speculation in the crypto community as it was done in the midst of a price spike by the SHIB token. In addition, this production was also done after the Shiba Inu whale group wholesaled the token.
Based on data from PeckshieldAlert, a platform that offers blockchain data in real-time, found that Justin Sun's wallet made two withdrawals today, December 19. Also, based on the data, the first transaction that triggered speculation was the release of 500 billion SHIB, worth $5.2 million, from Binance. The second transaction shows the withdrawal of 77 billion SHIB, worth $810 thousand, from the same crypto exchange.
Should know from Binance done when Shiba Inu shows bullish sentiment. Today, SHIB prices have surged nearly 7% in line with increased buying among SHIB whales.
At the time of writing, Shiba Inu recorded an increase of 6.36% in the last 24 hours, trading at a price level of $0.00001042. Additionally, this token has surged 8.85% in the last week, followed by a monthly increase of 22.87%.
With the price of SHIB continuing to rise, crypto traders and investors are seen to continue to focus on this token.
