Elon Musk posted a tweet that the community interpreted as sending Shiba Inu to the moon, which led to an increase in SHIB prices. Network data provider Santiment has identified another reason for the rise of the meme cryptocurrency.
Once again, the head of Tesla and SpaceX and the eccentric billionaire has shown that he has the ability to pump meme coins with his tweets, including Shiba Inu.
It all started when the world-renowned innovative entrepreneur published a tweet in which he “drew” an animal with a flying rocket, which for some reason was considered a Shiba Inu dog. However, of the two coins Dogecoin and Shiba Inu, the message was attributed to the latter.
In the comments, some members of the crypto community posted SHIB charts, indicating that after this tweet by Mask, the cryptocurrency rose more than 10%. As a result, it reached the level of $ 0.00002885, after which there was a slight correction.
Shiba is up 10% since this tweet pic.twitter.com/ZxsBqrpxEz
— Fintwit (@fintwit_news) October 17, 2021
The Santiment analyst team provided information that SHIB transactions increased by $ 100,000, and this invariably increases the price of the cryptoasset.
🐳 #ShibaInu is back up to $0.00002885 while the spotlight is back on #Bitcoin and its close-in on its new #AllTimeHigh. But keep an eye on $ SHIB‘s whale transactions exceeding $100k. When these transactions come in bunches, price rises generally follow. https://t.co/oeGN85BpXS pic.twitter.com/G9kJopNTHE
– Santiment (@santimentfeed) October 18, 2021
Over the weekend, Etherscan discovered several large transfers of Shiba Inu tokens, which included up to 100 million coins.
The individual consecutive translations contained about 86 billion SHIB each. In total, about 260 billion SHIB tokens have been moved within this series.
The previous Shiba Inu price rally was triggered by large SHIB transfers performed by cryptokits. One of them bought 6 trillion SHIB in a single transaction and then added himself 276 billion tokens split into three parts.
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