Over past two hours, Ethereum whales have dumped more than 409.5 billion SHIB tokens on market
Top Ethereum whales continue to buy and sell SHIB while its price fluctuates. According to a recent tweet by WhaleStats, these big investors dumped $5.3 million worth of Shiba Inu meme tokens.
Meanwhile, this SHIB burner has reported that its total SHIB burn count now constitutes 3.47 billion Shiba Inu.
409.5 billion SHIB sold
WhaleStats shared that after holding $161.3 million earlier today, these top 5,000 whales on Ethereum have $5.3 million less – $159,673,102 in meme crypto. This is a total of 409,582,689,335 Shiba Inu.
Apart from Shiba Inu, the top 10 list of whales’ crypto holdings includes stablecoin Maker, LINK, UNI, MANA and other small-cap coins. LINK occupies fifth place after SHIB here.
Forming a Bullish Pattern for SHIB: Peter Brandt
Savvy commodity trader Peter Brandt, who has been in business since the 70s and who follows Bitcoin, Ethereum and some other top and trendy coins, mentions them in his tweets from time to time, believes A reversal head and shoulders pattern has formed. For the second largest canine crypto.
Inverse Head & Shoulders suggests that the price may start going up, thus presenting a buying opportunity for investors and traders.
On August 14th, Dogecoin’s rival, SHIB, demonstrated a 35% increase, which is believed to have been initiated by whales in large volumes. However, this price jump did not last and so far, the Shiba Inu has almost completely erased his recent big gains.
It is now trading at $0.00001307 — the zone it was at prior to the explosive price spike. This price was reached after a nearly 3% decline over the past 24 hours, according to CoinMarketCap.
This portal has generated 3.74 billion SHIB. has burned
The Shib Burn platform founded by smartphone game maker Travis Johnson has announced that the amount of Shib it has destroyed since launching the SHIB Burn campaign last year has come to close to four billion meme tokens.
It has been 3.74 billion Shiba Inu in total. In the meantime, on Sunday, Aug. 21, Johnson burned close to 50,000,000 SHIB worth $609.
Johnson buys the SHIB he burns every Sunday with part of the advertising profits from his game and part of the revenue he gets for selling SHIB-branded merchandise and accessories in his online shop.
Burning implies sending Shiba Inu to dead-end addresses, from where tokens cannot be spent or withdrawn in any way. The goal of the joint efforts of the SHIB army in burning these coins is to create momentum for a massive price rise. However, the coin seems to be far from it at the moment, as all these burns destroy a miserable part of the circulating SHIB supply.
In total, last week, the SHIB army managed to burn over half a billion meme tokens.
