Crypto Giant Offloads Shiba Inu Worth $4.5 Million Amid Market Slowdown

Crypto Giant Offloads Shiba Inu Worth $4.5 Million Amid Market Slowdown


Cumberland, an institutional digital asset trading firm, has transferred a substantial quantity of Shiba Inu (SHIB) tokens, valued at approximately $4.5 million, to various cryptocurrency exchanges, including Coinbase and OKX. This move comes amidst a noticeable slowdown in the market for SHIB.

Cumberland Offloads Almost All Shiba Inu Tokens

Over the past 24 hours, Cumberland executed significant transfers involving more than 210 billion SHIB tokens, according to on-chain data provider The Data Nerd (@OnchainDataNerd). The major portion of these tokens, approximately 144 billion SHIB, valued at roughly $3.46 million, was moved to the US-based crypto exchange, Coinbase. This transaction occurred within the last 12 hours, aligning with SHIB’s market price of $0.000024.

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An earlier transaction within the same 24-hour period involved Cumberland transferring 50.36 billion

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