A whale displaces a staggering 3.3 trillion SHIBs while almost no SHIBs were burned today.

Blockchain platform Whale Alert, which tracks the biggest cryptocurrency transfers as they happen, has reported that a staggering 3.3 trillion Shiba Inu coins have just been moved from an anonymous address to another.

3.3 trillion SHIB moved to new wallet.

According to Etherscan, the send address is now empty because the 3,368,267,529,701 SHIBs have been moved to a new blank wallet, which can be considered a newly born SHIB whale. 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 wallet tracking platform WhaleStats. This represents 3.86% of their portfolio.

The SHIB’s burn rate drops drastically.

The Shibburn platform, which tracks transfers from SHIB to wallets”infernal“, said that in the past 24 hours, less than 500 million Shiba Inus have been taken out of circulation and transferred to dead end addresses.

The burn rate of this meme currency has plunged almost 100%. On November 3, Shibburn reported that 22,248,144 SHIBs had been sent to dead wallets. In the last 24 hours, this amount has increased to just 424,268 meme coins – unless there is a problem with the transaction tracking system today as the amount is abnormally low.

Image via Shibburn

SHIB Price Reverses After Slight Decline

Earlier today, Shiba Inu gained 10%, the price then took a 4.1% plunge and is now on the rise.

Shiba Inu gained 2.5%, trading at $0.00001217. SHIB has broken away from its correlation with Dogecoin, and as DOGE has started to dip, SHIB has started to rise, as the community awaits the release of the Shibarium Layer 2 solution.

Also, the recently launched trading card game Shiba Eternity has reached a new milestone with approximately 250,000 downloads worldwide.

Leave a Comment