Astounding amount of Shiba Inu was shoveled by cryptocurrency whale as coin’s price reverses

By Selena On Nov 4, 2022

The Whale Alert blockchain network, which analyzes massive crypto transactions as they happen, has announced that 3.3 trillion Shiba Inu have just been transferred from one anonymous address to another.

Whale Moves Trillions of Shiba Inu (SHIB) as Hardly Any SHIB Gets Burned Today

According to Etherscan, the sending address is now empty because all of the 3,368,267,529,701 SHIB were transferred to a new wallet, which may now be regarded as a newly born SHIB whale. This is the same as $41,730,561. According to data published by the WhaleStats wallet tracking platform, the top 100 whales on the Ethereum network now have $100,114,312 in Shiba Inu in their wallets. This represents 3.86% of their total portfolio.

🚨 3,368,267,529,701 #SHIB (41,730,561 USD) transferred from unknown wallet to unknown wallethttps://t.co/Yi7Cp0PonF

— Whale Alert (@whale_alert) November 4, 2022

The Shibburn website, which tracks SHIB transfers to “inferno” wallets, said that less than 500 million Shiba Inu were moved out of circulation and into dead-end addresses in the last 24 hours. This meme coin’s burn rate has dropped by approximately 100%. Shibburn stated on November 3 that 22,248,144 SHIB were delivered to dead wallets. Unless anything is amiss with the burn tracker today, this sum has dropped to just 424,268 meme coins in the last 24 hours.

Shiba Inu gained 10% on an hourly chart earlier today, producing a big green candle. The price then fell by 4.1% and is already rising again. Shiba Inu is now trading at $0.00001217 on the Coinbase platform, up 2.5%.

SHIB broke away from its relationship with Dogecoin, and as DOGE began to fall, SHIB began to rise, as the community anticipated introducing the Layer 2 solution Shibarium. Furthermore, the recently released Shiba Eternity collectible card game has reached a new milestone of about 250,000 downloads worldwide.

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