Shiba Inu Coin: 8.5 Trillion SHIB Moved; SHIB Burn Rate Drops

Shiba Inu Coin News: Shiba Inu (SHIB), the world’s second-largest meme cryptocurrency, has experienced a significant increase in value over the last week. As per the recent tweet from whale alert, an unidentified whale transferred nearly 3 trillion Shiba Inu tokens between wallets, valued at $26.3 million.

Both addresses are inactive and relatively new. These wallets contain no other tokens besides SHIB. Notably, SHIB is no longer the largest holding among the top 100 largest Ethereum whales, according to WhaleStats.

SHIB burn down by 41%

As per the ShibBurn data, the Shiba Inu coin burn rate is down by 41% in the last 24 hours. The burn rate coin declines despite the massive transfer of SHIB among whale wallets. Recently, SHIB developer ‘Shib Trophias’ shared an update about the project’s completion without naming it. The developer also stated that the project will be launched in phases to aid in the content flow. SHIB transfer from one wallet to another can be linked with the recent announcement.

According to WhaleStats’ on-chain data, the top 1,000 ETH whales own a total of $32.1 million in SHIB. Their next largest holding is Oracle blockchain Chainlink (LINK), which is worth $11 million, and gaming metaverse protocol Decentraland (MANA), which is worth $6.7 million.

Shiba Inu Live Price

As per the coinmarketcap data, the live Shiba Inu price is $0.000009 USD, and the 24-hour trading volume is $83,113,182 USD. SHIB price has increased by 1.70% in the last 24 hours, with a live market cap of $5,112,441,649 USD. It has a total circulating supply of 549,063,278,876,302 SHIB coins. There is insufficient supply.

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Nishant Shukla

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