Blockchain platform Whale Alert, which tracks the biggest crypto-currency transfers as they happen, has reported that a mind-blowing 3.3 trillion Shiba Inu coins had just been moved from one anonymous address to another.
3.3 trillion SHIB moved to a new wallet.
According to Etherscan, the sending address is now empty as the 3,368,267,529,701 SHIBs have been moved to a new blank wallet, which can be considered a newly born SHIB whale. This is the equivalent of $41,730,561.
The top 100 whales on the Ethereum blockchain now hold $100,114,312 worth of Shiba Inu in their wallets, according to data shared by wallet tracking platform WhaleStats. This represents 3.86% of their constituted wallets.
🚨 3,368,267,529,701 #SHIB (41,730,561 USD) transferred from unknown wallet to unknown wallethttps://t.co/Yi7Cp0PonF
– Whale Alert (@whale_alert) November 4, 2022
SHIB burn rate drops drastically.
The Shibburn platform, which tracks SHIB transfers to portfolios “infernal“, reported that in the last 24 hours, less than 500 million Shiba Inu have been removed from circulation and transferred to dead-end addresses.
The burn rate of this meme currency has plunged nearly 100%. On November 3, Shibburn reported that 22,248,144 SHIB had been sent to dead wallets. In the last 24 hours, that amount has dropped to just 424,268 meme coins – unless there’s a problem with the transaction tracking system today as the amount is abnormally low.
SHIB’s price reverses after a slight drop
Earlier in the day, Shiba Inu gained 10%, the price then took a 4.1% dive and is now up.
Shiba Inu gained 2.5%, trading at $0.00001217. SHIB broke away from its correlation with Dogecoin, and as DOGE began to plunge, SHIB began to rise as the community awaits the release of the Shibarium Layer 2 solution.
In addition, the recently launched trading card game Shiba Eternity has reached a new milestone with about 250,000 downloads worldwide.