As per data from the crypto transaction tracker service Whale Alert, a massive Shiba Inu transfer has taken place during the past day. This transaction involved the movement of 4,000,000,000,000 SHIB on the Ethereum blockchain, worth about $34.7 million at the time of the transfer.

Since the transaction here is so large, it’s likely that the entity behind it was a whale. Sometimes, movements from this cohort can have visible impacts on the market due to the sheer scale involved in them. But how the price would respond to their moves depends on what their intention was with the transfer in question.