November 27, 2023
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December 13, 2023
An unidentified Shiba Inu whale acquired 4 trillion SHIB tokens, worth $42 million, marking the highest December purchase amidst Q4 2023 whale inactivity.
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Whale Alert, a cryptocurrency wallet tracker, revealed the massive transaction of 4,238,953,460,450 SHIB tokens between unknown wallets, with no exchange involvement.
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The whale has not moved or sold the tokens, suggesting a long-term holding strategy, and the community speculates the whale anticipates benefits from upcoming SHIB burns.
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The Shiba Inu team confirmed Shibarium will start burning SHIB tokens from January 2024 onwards, possibly influencing the whale's early entry and accumulation strategy.
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With the anticipation of ongoing burns in Shibarium, the whale aims for potential token value growth as trillions of tokens might be sent to the dead wallet.
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The market happenings shows the scale of burns, whether in trillions, millions, or billions of tokens, plays a crucial role in sustaining long-term price growth.
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SHIB trades at $0.00000975, down 3% in 24 hours, and remains 89% below its October 2021 peak of $0.00008616.
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