HomeNewsTrillions of SHIB Tokens Move in Mysterious Transaction: Shiba Inu Faces Decline

Trillions of SHIB Tokens Move in Mysterious Transaction: Shiba Inu Faces Decline

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  • Trillions of SHIB tokens, equivalent to almost $40 million, have been on the move in a recent transaction.
  • Shiba Inu (SHIB) experiences a 7% price drop in the last 24 hours and a 13% decline since the weekend.

Shiba Inu Price Decline

In the world of cryptocurrencies, Shiba Inu (SHIB) is making headlines once again, but this time, it’s due to a significant price decline. Over the past 24 hours, SHIB has witnessed a 7% decrease in its value, and since the weekend, it has slumped by 13%. This descent has taken it from $0.00000986 to its current level of $0.00000858.

Trillions of SHIB Tokens on the Move

Whale Alert, a prominent blockchain tracker, recently reported a massive transfer of Shiba Inu meme coins. An astonishing 4,276,568,835,013 SHIB tokens changed hands, equivalent to a staggering $37,950,271. This transfer originated from one of Bitvavo exchange’s internal wallets and was directed to another wallet linked to Bitvavo. Such large SHIB movements often occur when cryptocurrency platforms are reorganizing their digital asset holdings.

Anonymous Whale Burns 100 Million SHIB

Adding to the intrigue, Lucie, a key member of the Shiba Inu team, disclosed the identity of the individual behind the burning of 100 million SHIB tokens. This remarkable event took place within the past 24 hours. In total, 146,261,497 SHIB tokens were sent to unspendable wallets during this period, with the 100 million SHIB chunk being the largest single transfer.

The @theshibdream Twitter account, issuer of the Shib Dream NFT collection, was responsible for this substantial burn. As a result of these burns, the daily SHIB burn rate surged by 459.57%, as reported by the Shibburn website.

In summary, the cryptocurrency community is abuzz with the movement of trillions of SHIB tokens in a mysterious transaction. Meanwhile, Shiba Inu‘s price faces a notable decline, and an anonymous whale has burnt a significant amount of SHIB tokens, further adding to the intrigue surrounding this meme-inspired cryptocurrency.

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John Kiguru
John Kiguru
John Kiguru is an accomplished editor with a strong affinity for all things blockchain and crypto. Leveraging his editorial expertise, he brings clarity and coherence to complex topics within the decentralized technology sphere. With a meticulous approach, John refines and enhances content, ensuring that each piece resonates with the audience. John earned his Bachelor's degree in Business, Management, Marketing, and Related Support Services from the University of Nairobi. His academic background enriches his ability to grasp and communicate intricate concepts within the blockchain and cryptocurrency space. Business Email: info@ethnews.com Phone: +49 160 92211628