SHIB Burn Jumps 850% – Leads Ethereum Whale Trade

Shiba Inu (SHIB)

The cryptocurrency called Shiba Inu, often dubbed a rival to Dogecoin, saw its burn rate increase by a massive 850% in just one day.

JOIN CRYPTOS HEADLINES TELEGRAM CHANNELTelegram Logo

What Happened

According to Shibburn data, more than 1 billion SHIB tokens were taken out of use during this time.


Why It Matters

There was a big transaction where 4.6 trillion SHIB tokens, worth $38.39 million, moved from Bitvavo crypto exchange to a wallet with no owner. This happened twice, with a similar transfer the day before.

Why It’s Important

These big moves happened when Shibarium, a new Ethereum-based blockchain, was introduced. Also, Whalestats data showed that SHIB is now the top token traded among the biggest Ethereum holders.



Price Update

Right now, SHIB is valued at $0.00000789, a decrease of 4.19% in the past 24 hours.

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

Centered JavaScript

Join Cryptos Headlines Community

Follow Cryptos Headlines on Google News

Author

  • Salim

    "Salim is a news writer at CryptosHeadlines who creates excellent, well-optimized content to ensure user satisfaction. He is skilled in forecasting News About Cryptocurrency Market & blockchain Industry."

    View all posts

Leave a Reply

Your email address will not be published. Required fields are marked *