In a surprising turn of events, South Korea’s leading cryptocurrency exchange, Upbit, witnessed an influx of Shiba Inu (SHIB) tokens today, totaling a staggering 84 billion SHIB, valued at over $700,000.

The transactions, typically associated with sell-offs, took an unexpected twist, raising intriguing questions about Upbit’s motives.

Contrary to the norm, the massive SHIB transfers occurred within the exchange’s own deposits, minimizing external influences. The prevailing theory suggests that Upbit might be executing a strategic move to streamline its hot wallets, a process involving the reorganization of digital assets.

Is something brewing for SHIB on Upbit?

The sheer scale of today’s movements is noteworthy, constituting more than 25% of the total SHIB volume on Upbit. This raises speculation about the exchange’s underlying agenda, prompting questions about whether Korean’s major CEX is gearing up for a significant development related to Shiba Inu.

Shiba Inu, currently holding 100th place among all trading pairs on Upbit, boasts a trading volume of just over $2.7 million. The sizable transfers today, coupled with the cryptocurrency’s relatively modest standing on the exchange, add an element of mystery to the situation.

As of now, the question looms: is Upbit laying the groundwork for a sell-off, or could these substantial movements be signaling a forthcoming Shiba Inu-related initiative?

With over $700,000 in play, SHIB enthusiasts should keep an eye on and await the next chapter in this unexpected twist within the SHIB saga on Upbit.

Read the full article here

Share.

Leave A Reply

Your road to financial

freedom starts here

With our platform as your starting point, you can confidently navigate the path to financial independence and embrace a brighter future.

Registered address:

First Floor, SVG Teachers Credit Union Uptown Building, Kingstown, St. Vincent and the Grenadines

CFDs are complex instruments and have a high risk of loss due to leverage and are not recommended for the general public. Before trading, consider your level of experience, relevant knowledge, and investment objectives and seek financial advice. Vittaverse does not accept clients from OFAC sanctioned jurisdictions. Also, read our legal documents and make sure you fully understand the risks involved before making any trading decision