SHIB 417.3 billion moved by mysterious portfolio as yesterday’s Shiba Inu collapses

At the same time, the total amount of SHIB burned in the past 24 hours has seen a steep drop.

417.3 billion SHIB in motion, 3 trillion bought

Since nearly half a billion Shiba Inu currencies were sent in a single transaction, the details provided by Etherscan show that this was a transaction from one Binance wallet to another. The fiat equivalent of this amount is $4,186,887.

The exchanges and whales have become active recently, moving large amounts of Shiba Inu. On October 18, a notable amount of SHIB was transferred to a blank wallet, carrying 3,388,119,787,804 meme coins. Thus, the market may have witnessed the emergence of a new SHIB whale. This amount of meme coins is worth $34,887,130.

SHIB burns decrease

According to a recent tweet posted by the Shibburn Twitter account, which tracks the withdrawal of SHIBs from the circulating supply, only 10,343,321 Shiba Inu coins were burned in the last 24 hours.

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More recent data from their website shows a figure twice as large – 25,991,998 SHIBs, showing that the burn rate of the meme coin has increased by 649.92%.

Even so, the overall rate of SHIB burning by the community is much lower than in the summer, when a minimum of 100 million coins were burned each day and one or two billion SHIB disappeared in a week.

Now that the second largest SHIB meme token is trading 88.63% lower than its all-time high of $0.00008845 set in late October of last year, it would seem to be a good opportunity to burn Shiba coins. However, the community doesn’t seem to be in a hurry to do so, as the whales continue to make a profit trading millions and billions of Shiba Inu.

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