Whale transactions moving millions of Shiba Inu (SHIB) and Dogecoin (DOGE) meme coins were noticed today, May 17. Whale Alert reported four transactions moving 5 trillion SHIB worth $43,615,00 each. All four transactions came from a single address, thus the whale moved 20 trillion SHIB tokens worth $175 million. The whale has now become the 5th largest SHIB holder.
At the same time, Whale Alert also reported five transactions moving 680 billion DOGE, each worth over $48 million. These transactions also came from a single wallet address. Therefore, the whale moved 3.4 billion DOGE tokens worth almost $250 million. The whale is now the 5th largest DOGE holder.
Recently, on-chain data from Lookonchain in a tweet on May 17 said it has found an interesting link between these Shiba Inu and Dogecoin transactions. It revealed the new 5th largest SHIB holder and 5th largest DOGE holder is likely the same person.
According to Lookonchain, these transactions are performed by Jump Trading or a partner of Jump Trading. “0x73AF” transferred 20 trillion SHIB ($176 million) to “0x40B3” in four transactions, a became 5th largest holder of Shiba Inu. Almost at the same time, “DDuXGM” also transferred 3.4 billion DOGE ($248 million) in five transactions to “DEgDEF”, which became the 5th largest holder of Dogecoin.
“0x73AF” received 310K ETH ($563M) from Jump Trading “0x0716” and Jump Trading “0xeA3e”, which can be the internal address of Jump Trading or a partner of Jump Trading.
However, CoinGape earlier reported that “DDuXGM” is the cold wallet of Robinhood. “DEgDEF” is possibly another wallet of Robinhood.
Sorry to disappoint you $PEPE people, but those 5 txs earlier today of about $49M each were most likely a move to a cold wallet. That money ain’t going to $PEPE.https://t.co/DNUkJUXyM9
— Ðogecoin Whale Alert (@DogeWhaleAlert) May 17, 2023
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SHIB and DOGE Price Reaction
DOGE price jumped 2% in the last 24 hours, with the price currently trading at $0.073. The 24-hour low and high are $0.071 and $0.074, respectively. Furthermore, the trading volume has increased slightly in the last 24 hours, indicating an interest among traders.
Meanwhile, SHIB price continues to move sideways this week. Shiba Inu fell 1% in the last 24 hours and the price is currently trading at $0.0000087.
Also Read: Coinbase Looks To Singapore Amid US SEC Woes
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