According to data from Etherscan, whales have exchanged more than two trillion Shiba Inus in the last hour. Nearly all of this SHIB was moved to Binance, the biggest cryptocurrency exchange, most likely to be used for sell-offs.
At the current currency rate, 21 billion SHIB is equal to $149,940 in total.
Two stashes totaling 10,891,899,999,999 SHIB and 2,000,000,000 SHIB were used to deliver the astonishing quantity of meme coins to Binance. Assigned to the platform’s Binance 14 address, they arrived there.
The third transaction, which involved a transfer of 2,499,600,000 SHIB, took place between two anonymous wallets.
Whales transferred 28 billion Shiba Inu during last week. Much of that sum was transferred to wallets on Binance and Coinbase, where it is probable that it will also be sold.
Millions of SHIB getting burned
Data from the Shibburn website show that over the previous 24 hours, the burn rate of Shiba Inu has decreased. Over the course of that time, several SHIB army members were successful in removing 11,996,642 SHIB from circulation.
Since just a small portion of this had burned by Monday AM, the burn rate only increased by 10.12%. The very last and the very first burn transfers on the list thus far, 9,942,302 and 2,038,923 SHIB, respectively, were transported in the two greatest burn transactions.
Compared to June 19, when it climbed to the 1,028% mark and 15,487,160 Shiba Inu tokens were removed from circulation, that day’s burn rate was significantly lower.
SHIB soars 10% on weekly basis
The price of Shiba Inu, the second-most popular meme token, has increased 10.40% since last Wednesday, June 15, climbing from $0.00000648 to the $0.00000715 level, where it is now trading, as of this writing.
