According to a recent tweet from the @spotonchain analytics platform, within the last 20 hours, a whale who possessed about half a trillion Shiba Inu meme coins liquidated them at a significant loss.
Meanwhile, Shiba Inu, the second largest meme-inspired cryptocurrency, is rapidly approaching the point where it may burn the fifth zero in its price.
Mysterious whale deposits 421.6 billion SHIB to Binance
According to a tweet from the aforementioned on-chain data source, the whale sold a total of 421.6 billion at an average price of $0.000009437. The sale occurred on both Binance and DEX (most likely the Binance DEX in this case): 311.6 billion Shiba Inu were sold on the Binance exchange, while 110 billion SHIB were disposed of via the DEX.
Additional information supplied by @spotonchain beyond the tweet reveals that this unknown whale acquired hundreds of billions of SHIB on HTX and Binance in November 2021. Prior to the present sale, the whale had kept them for about 2.5 years.
https://x.com/spotonchain/status/1761198652838793715?s=20
According to the analytics company, a legitimate sale would result in a colossal $6.32 million loss for the whale.
SHIB price close to removing zero
Today, the popular meme-themed cryptocurrency SHIB rose 3%, approaching the $0.00001 mark, where one zero would be burnt.
On Tuesday, SHIB got even closer to exceeding that barrier, reaching $0.0000993. Since then, until earlier today, the Shiba Inu meme currency has fallen about 6%.
At the time of writing, Shiba Inu is trading at $0.00000962 on the Binance platform.
SHIB burns stage rise
Shibburn transaction tracker announces a recent rise in the SHIB burn rate. It is, however, minor — 55.12% with a total of 52,059,153 SHIB moved to unspendable wallets with no possibility of withdrawal. The highest burn occurred six hours ago, delivering 42,058,800 SHIB to a dead-end blockchain address. The second-largest one held 9,992,557 SHIB.
On Friday, the daily increase in SHIB burns was a stunning 8,512%, with 86.1 million meme coins sent to zero SHIB addresses.
