- Lookonchain suggests a connection between SHIB and DOGE holders.
- Noteworthy transactions involving SHIB and DOGE cause a stir.
- Jump Trading or its affiliates may be involved in the transactions.
The blockchain analytics platform, Lookonchain, has put forth an intriguing hypothesis regarding the correlation between two of the most widely recognized meme coins in the crypto realm: Shiba Inu (SHIB) and Dogecoin (DOGE). According to their analysis, there appears to be a connection between the 5th largest holders of SHIB and DOGE, with compelling evidence suggesting the involvement of esteemed trading firm Jump Trading or one of its affiliates. This development is certainly worth monitoring for those invested in the crypto market.
In the past 12 hours, noteworthy transactions have reportedly occurred, causing a stir within the crypto sphere. According to Lookonchain’s analysis, a wallet identified as “0x73AF” transferred a staggering 20 trillion SHIB tokens, valued at approximately $176 million, to the address “0x40B3.” As a result, “0x40B3” has rapidly risen to become the fifth-largest SHIB holder.
Concurrently, a distinct occurrence transpired within the DOGE domain. A distinct wallet, dubbed “DDuX,” carried out four transactions, transferring a staggering 3.4 billion DOGE, equating to $248 million, to the address “DEgD.” Consequently, “DEgD” expeditiously secured the highly sought-after 5th position among DOGE holders.
As Lookonchain delved deeper into the matter, the plot thickened, revealing a significant correlation between SHIB and DOGE transactions and a substantial Ethereum (ETH) influx. The investigation uncovered that a whopping 310,000 ETH, worth a staggering $563 million, was transferred to “0x73AF” from two wallets linked to Jump Trading – “0x0716” and “0xeA3e.” These wallets are believed to be internal addresses belonging to Jump Trading or its trusted associates. The findings are a testament to Lookonchain’s meticulous observation and the gravity of the situation.
As the spotlight shines brightly on SHIB and DOGE, we find ourselves at the cusp of a thrilling new chapter in the ever-evolving tale of meme coins.
