Astounding amount of Shiba Inu was shoveled by cryptocurrency whale as coin’s price reverses
Whale Alert blockchain platform, which tracks large crypto transfers as they occur, has spread the word that a mind-blowing 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 are now holding $100,114,312 worth of Shiba Inu in their wallets, according to data shared by WhaleStats wallet tracking platform. This is 3.86% of their comprised portfolio.
🚨 3,368,267,529,701 #SHIB (41,730,561 USD) transferred from unknown wallet to unknown wallethttps://t.co/Yi7Cp0PonF
— Whale Alert (@whale_alert) November 4, 2022
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 plunged by nearly 100%. On Nov. 3, Shibburn reported that 22,248,144 SHIB were sent to dead wallets. During the period of the past 24 hours, this amount has shrunk to merely 424,268 meme coins — unless something is 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.
Shiba Inu has gone up 2.5%, trading at $0.00001217 on the Coinbase exchange. SHIB broke away from its correlation to Dogecoin, and while DOGE began plunging, SHIB started going up, as the community is expecting the release of the Layer 2 solution Shibarium.
Besides, the recently launched Shiba Eternity collectible card game has reached a new milestone of roughly 250,000 downloads globally.