3.5 Trillion Shiba Inu Moved Ahead Of Binance Upgrade

Shiba Inu Coin News: Shiba Inu, the second largest meme crypto, registered a mild recovery as Bitcoin (BTC) price spiked last week. However, it is expected that SHIB price might see a surge as Binance, world’s largest crypto exchange decides to upgrade its listing. Meanwhile, crypto whales have been caught moving trillions of Shiba Inu Coins.

Also Read: Binance Removes Shiba Inu, 1INCH, FXS, TWT From Innovation Zone

3.5 Trillion SHIB On The Move

As per the data received by WhaleAlert, crypto whales moved 3.48 trillion Shiba Inu Coins in a single transaction. $40.2 million worth of SHIB was moved among two unknown wallets. It is important to note that this transaction was recorded before Binance decided to move SHIB out of the innovation zone.

Binance in a recent announcement decided to move several tokens including Shiba Inu out of the innovation zone from April 18, 2023. Frax Share (FXS), Trust Wallet Token (TWT) and 1 inch (1INCH) will be part of this degradation.

It added that the Innovation Zone was introduced to make crypto exchange a safer place. However, these tokens proved their projects to meet high levels of standards.

Also Read: Elon Musk Reveals US Govt Can Access Twitter DMs

Shiba Inu Burn Rate Drops

ShibArmy expects a reasonable amount of price surge after this big announcement. However, Shiba Inu price jumped by 2% in the last hour to erase the prior loss. SHIB is trading at an average price of $0.000011, at the press time. Its 24 hour trading volume is up by 3% to stand at $327.7 million.

According to the data, Shiba Inu Burn rate has registered a drop of 86% in the last 24 hours. ShibArmy managed to transfer only 31 million SHIB to a dead wallet over the past day.