Astounding amount of Shiba Inu was shoveled by cryptocurrency whale as coin’s price reverses
The Whale Alert blockchain platform, which tracks large crypto transfers as they happen, has spread word that 3.3 trillion Shiba Inu canine coins have just been moved from one anonymous address to another.
3.3 trillion SHIB moved to new wallet
According to Etherscan, the sending address is now empty as all of the 3,368,267,529,701 SHIB were moved to a blank new wallet, which may be considered a newly born SHIB whale now. This is the equivalent of $41,730,561.
The top 100 whales on the Ethereum chain now hold $100,114,312 worth of Shiba Inu in their wallets, according to data shared by the WhaleStats wallet tracking platform. This is 3.86% of his included portfolio.
SHIB burn rate plunges drastically
Shibburn platform, which traces transfers of SHIB to “inferno” wallets, has shared that over the past 24 hours, less than 500 million Shiba Inu were moved out of circulation and into dead-end addresses.
The burn rate of this meme coin has dropped by almost 100%. On November 3, Shibburn reported that 22,248,144 SHIB had been sent to the dead wallet. During the last 24 hour period, that amount has shrunk to just 424,268 Mem coins – unless something went wrong with the burn tracker today.
SHIB price reverses after mild fall
Earlier today, Shiba Inu added 10% on an hourly chart, printing a massive green candle. The price then took a dive of 4.1% and is now on the rise again.
The Shiba Inu is up 2.5% on the Coinbase exchange, trading at $0.00001217. SHIB broke away from its correlation with Dogecoin, and as DOGE began to sink, SHIB began to rise, as the community is anticipating the release of Shiberium, a Layer 2 solution.
Besides, the recently launched Shiba Eternity collectible card game has reached a new milestone of roughly 250,000 downloads globally.
