3 mysterious crypto wallets send $65.44M of SHIB to Coinbase-associated wallet

Etherscan.io data has revealed that three mysterious wallets have transferred a staggering 6.08 trillion (6.08T) SHIB, valued at $65,445,484 ($65.44M) to a Coinbase-associated wallet tagged “Coinbase 10.”

This has sparked speculation among the Shiba Inu (SHIB) community about a possible listing of the meme token on the popular crypto exchange.

Shiba Inu (SHIB) is a token that aspires to be an Ethereum-based alternative to Dogecoin (DOGE), the popular memecoin.

Unlike Bitcoin, which is designed to be scarce, SHIB is intentionally abundant — with a total supply of one quadrillion. The Shiba Inu ecosystem also supports projects such as an NFT art incubator and a decentralized exchange called Shibaswap.

The transfer of such a large amount of SHIB tokens to a Coinbase wallet could indicate that the exchange is preparing to list the token on its platform, exposing it to millions of potential buyers and increasing its liquidity and adoption. However, Coinbase or Shiba Inu has no official confirmation about this possibility.

Coinbase has been expanding its list of supported cryptocurrencies recently, adding more than 100 new assets in 2021 alone.

See Also:  Bitcoin's 'Fundamental Value Is Not in Line With Market Price'

The exchange has also expressed interest in listing meme coins like Dogecoin, which it added in June 2021. SHIB could be the next meme coin to join Coinbase’s roster, given its popularity and market cap.

SHIB is currently ranked #11 among all cryptocurrencies by market cap, with a value of $0.00001073 per token and a total market cap of $6.3 billion.

The token has seen a remarkable rise since its launch in August 2020, reaching an all-time high of $0.000084 in October 2021. That was a 150,000,000% increase from its initial price of $0.000000000056.

The SHIB community eagerly awaits any news or announcement from Coinbase or Shiba Inu regarding the potential listing of the token. If confirmed, this could boost the price and popularity of SHIB even further and cement its position as one of the leading meme coins in the crypto space.

See Also:  Bitcoin and Ethereum Prices Today Continue To Fail, XRP Zooms 20%
About Rishika Chawla 142 Articles
Rishika Chawla is a second-year college student pursuing Mathematics Hons. in NMIMS. She always had a passion for writing be it news articles, blogs, etc.

Be the first to comment

Leave a Reply

Your email address will not be published.