3.5 Trillion Shiba Inu Moved Ahead Of Binance Upgrade

Ashish Kumar
April 17, 2023 Updated September 6, 2025
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Shiba Inu Coin: Over 81 Mln SHIB Destroyed As Burn Rate Spikes 4000%, What's Next?

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

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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

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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.

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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
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Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
Ashish believes in Decentralisation and has a keen interest in evolving Blockchain technology, Cryptocurrency ecosystem, and NFTs. He aims to create awareness around the growing Crypto industry through his writings and analysis. When he is not writing, he is playing video games, watching some thriller movie, or is out for some outdoor sports. Reach me at [email protected]
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.