Anonymous whale shifted over 3.5 million Shiba Inu after recent spike in daily SHIB transactions

Around an hour ago, an unknown wallet sent a staggering quantity of Shiba Inu to another address listed as anonymous by the tracker, according to Whale Alert. An unknown whale moved a big portion of SHIB the day before. Shiba Inu’s daily transactions increased dramatically earlier this week on the network.

The wallet in question sent a total of 3,504,812,794,902 Shiba Inu, valued at $40,063,515 at the time of the transaction. A whale shoveled 6 trillion SHIB in three astonishing transactions discovered by Whale Alert the day prior. The transactions were only a few minutes apart.

Whale Alert didn’t explain the enormous transactions. Therefore, it was most likely a redistribution of funds by exchanges or an individual holder. The same is true for today’s SHIB transaction. The number of daily transactions on the Shiba Inu network reached a new high on April 1 – the highest level since the beginning of 2023. On that day, little less than 36,000 distinct SHIB addresses transacted over the SHIB network.

Shiba Inu has increased by more than 8% in the last 24 hours. On April 3, it began with a giant green candle on an hourly chart, following Dogecoin’s example. Doge soared after Musk changed the Twitter logo from the bluebird to DOGE, as AZCoin News reported.

Crypto influencer David Gokhshtein, known to “vibe well” with the meme coin communities of SHIB, DOGE, and FLOKI, expressed hope that Dogecoin might become the currency of Twitter after this. Given that this app has approximately 400 million daily users, even a 20% increase in the use of DOGE for tipping/micropayments would make a significant difference for the crypto community.

Furthermore, in another tweet, he emphasized his previous idea regarding DOGE and other meme coins attracting new retail investors to the big cryptocurrency: “It was DOGE that brought new people into Bitcoin during the last bull run.”

SHIB community continues to burn large amounts of SHIB, while price is going up

With the March 11 launch of Puppynet, the volume of Shiba Inu burned daily and weekly began rapidly increasing. With few exceptions, hundreds of millions of SHIB have been burned daily since then. This is an anomaly, as less than 20 million SHIB were sent to inactive wallets.

Meanwhile, the dog-themed asset has significantly increased in the last week. 15 million SHIB were torched in 24 hours, while 280 million were destroyed the previous week. According to a recent tweet from the Shibburn tracker, the number of meme coins withdrawn from the circulating supply in the last 24 hours totals 15,139,646 SHIB in only four transactions.

Over the last week, almost 280 million meme coins have been delivered to dead-end wallets, which are locked and cannot be withdrawn or used. According to Shibburn, 7,109,337,371 Shiba Inu were burned throughout March – locked in unspendable wallets and in the SHIB contract.

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