Shiba Inu (SHIB) whale activity metric jumps 228% as price braces new move
Shiba Inu whales appear to be waking up, a crucial statistic that often indicates the activities of these massive holders have increased 228% in the last 24 hours.
According to IntoTheBlock, major transactions on the Shiba Inu network totaled $36.45 million in the last 24 hours, representing a 228.64% growth.
Big transactions exceed $100,000, and an increase in this measure could result from a large volume of buying or selling by whales or institutional holders. A change in the price of Shiba Inu has frequently coincided with a considerable increase in this statistic. SHIB appears to be starting April on the right foot, following a 9.83% drop in March.
Shiba Inu was trading at $0.00001092, up 2.60% in the last 24 hours. In the last 24 hours, a massive 17,603,658,210,868 SHIB worth $190,816,713 was swapped. Shiba Inu’s 24-hour trade volume was up roughly 21% at the time of writing.
SHIB/USD 4-hour chart | Source: TradingView
According to the Shibburn Twitter account, 6,782,788,547 SHIB tokens were burned in March through 540 transactions. In the previous 24 hours, 149,313,637 SHIB tokens have been burned, and eight transactions have occurred.
🔥🔥🔥 6,782,788,547 $SHIB tokens have been burned in the month of March with 540 transactions. #shib
— Shibburn (@shibburn) April 1, 2023
SHIB long-term holders have also increased to the highest level since the project’s launch in the last month. According to IntoTheBlock data, 67% of long-term holders are “holders,” or individuals who have held for over a year.
Over 202 million SHIB destroyed, almost all of it got burned in single transfer
Shibburn revealed that the Shiba Inu community managed to get rid of a surprising amount of meme tokens in the last 24 hours, driving up the burn rate. Shiba Inu prices have risen by 3.27% in the previous 24 hours following a minor retreat.
According to Shibburn, the burn rate of SHIB increased by 1,433% in the last 24 hours. This occurred when 202,401,383 Shiba Inu meme coins were permanently trapped in dead wallets. Only 8,209,953 meme tokens were removed by the SHIB army on Thursday.
According to the website, an anonymous wallet, -9c253, incinerated a 136,221,189 SHIB lump in a single transaction. From a -9e214 address, three chunks of 2,600,000 SHIB were sent to an unspendable wallet. Another wallet then joined in, consuming 55,687,745 SHIB.
Shibburn provided the image. At the same time, it was revealed yesterday that the Shiba Inu network had a 700% increase in transactions. The higher burn rate reflected the increased activity here. A new milestone in total transactions was seen on the Shibarium testnet (Puppynet) yesterday — this number topped 1 million transfers, according to BlockScout data. Puppynet was released on March 11. Therefore, it only took 20 days to reach the million mark.
A whale called “BlueWhale0073,” rated 254th on the WhaleStats tracker, purchased 99,297,904,247 Shiba Inu for $1,058,515 a few days ago. The whale sold it almost immediately, gambling on SHIB price swings and profiting handsomely from a little SHIB spike.
According to WhaleStats statistics, Shiba Inu is the most-traded token among the top 100 whales on Ethereum and the largest crypto asset in terms of USD equivalent held by them.
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