Shiba Inu Whale Transfers 800B SHIB to CoinMENA, Market Absorbs Supply

In the last 24 hours, a whale possessing 16-17% of Shiba Inu's total supply transferred roughly 800 billion SHIB, valued at nearly $4.9 million, to the CoinMENA exchange, as reported by EmberCN. This transaction involved several intermediary addresses before arriving at a deposit wallet on CoinMENA, suggesting a transition to a market-ready status. Since 2020, this wallet has gathered over 103 trillion SHIB, maintaining 95-99 trillion SHIB worth about $600 million. It has sold around 4.06 trillion SHIB, generating $37.6 million. SHIB's trading volume in the past day was approximately $168 million, with Etherscan indicating that the top 100 addresses control over 83% of the supply. The price of SHIB slightly fluctuated but stabilized at about $0.0000063.