Large wallets have transferred over two trillion SHIB in massive lumps, some of these coins were moved to top exchanges to sell
As reported by Twitter user @shibaplay_, who represents a burn project run by the SHIB community, an eye-popping amount of these popular meme coins have been shoveled out by major Ethereum wallets over the past 20 hours.
The largest single chunk of crypto totaled a whopping 1,926,012,699,342 SHIB equated to $17,623,016.
Whales Redistribute 2.2+ Trillion SHIB, Send Some to Exchanges
Data provided by Etherscan shows that more than 2.2 trillion Shiba Inu coins have been moved in a fairly short period of time – five transactions in total. The two of them took the Shiba Inu to major crypto exchanges.
A total of 82,079,564,000 SHIB were transferred to the largest U.S.-based crypto trader Coinbase (a publicly traded company as of April 2021). Most likely, the goal of this transaction was selling on Coinbase. This is the equivalent of $751,028.
According to Etherscan, the second transfer was worth about 81,606,470,665 SHIB on top of the OKX digital exchange.
The largest stash of SHIB spotted by Etherscan here was the aforementioned 1.9 trillion – it was moved between two wallets with unregistered owners. Two transactions, each carrying 100,000,000,000 SHIB, also took crypto from one anonymous wallet to another.
Burn rate drops 95%
According to data recently published by Shibburn, the leading burn tracking platform, which also conducts its own SHIB burnings from time to time and runs a number of projects that help them do so, the overall SHIB burn rate over the past 24 hours I am not doing well.
Over that recent period of time, the joint efforts of the SHIB community have made it possible to burn only as little as 2,000,000 meme coins. This means that compared to the previous 24 hours, the burn rate is down more than 95%.
Nevertheless, the price of SHIB is increasing gradually. According to data provided by CoinMarketCap, the second most popular meme coin is now trading at $0.000009144 after gaining 4+ percent in the last 24 hours.
