On Saturday, Shiba Inu cryptocurrency gained attention as a large holder moved 4 trillion SHIB coins, at the same time when the burn rate was on the rise.
On September 23, the cryptocurrency tracking platform Whale Alert noticed a significant transfer of Shiba Inu (SHIB) meme coins. A whopping 4 trillion SHIB coins were moved from a cryptocurrency exchange to an undisclosed wallet in this remarkable transaction. Interestingly, the SHIB price remained stable after this event, suggesting it boosted investor confidence.
Whale Moves 4 Trillion SHIB Tokens
In the latest report from Whale Alert, approximately 4.6 trillion SHIB coins, valued at $33.38 million, were moved from Bitvavo exchange to an unknown wallet. This substantial transfer has drawn the attention of investors, especially the Shiba Inu community, leading to recent gains in the cryptocurrency’s value despite a broader market decline. (https://etherscan.io/address/0xfd557a929cc7c11111e655348774f8a790d3ea5f)
This significant transaction has sparked various market speculations. Theories range from a potential sale to a wealthy holder redistributing their cryptocurrency assets. Alternatively, given the transfer’s size, it’s possible that the crypto exchange itself is moving part of its SHIB holdings to an internal address.
The true nature of the transfer remains a topic of curiosity and discussion within the crypto community.
Shiba Inu Coin Burning Rate
In the past 24 hours, an impressive 247,753,783 SHIB tokens were burned in about twelve transactions, according to data from the Shibburn platform. This surge increased the overall burn rate by 35.88% compared to the previous day.
Notably, the largest portions of SHIB tokens burned in these transactions were 191,531,588 and 15,774,071, respectively. In total, about 410.66 trillion Shiba Inu tokens have been burned from its original supply as of now.
As for its price, Shiba Inu was trading at $0.000007356 on Saturday, September 23, marking a 0.80% increase in the last 24 hours. However, its trading volume from the previous day decreased by 20.74% to $69.23 million at the same time.
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.
Join Cryptos Headlines Community
Follow Cryptos Headlines on Google News
Author
