Shiba Inu whale suddenly moves SHIB in massive cryptocurrency trade

A Shiba Inu (SHIB) investor with ample pockets is suddenly transferring trillions of SHIB in a massive crypto exchange.

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Shiba Inu whale suddenly moves SHIB in massive cryptocurrency trade

According to the whale surveying platform Whale Alert, the high net worth trader is moving 3.9 trillion tokens worth about $42 million at press time from one unknown wallet to another. 

Data from blockchain search engine Etherscan shows that the transfer was made early this morning and cost just $0.96 of the top altcoin Ethereum (ETH).

SHIB, which is changing hands at $0.000011 at press time, is up 2.83% over the past 24 hours and has seen an increase in the number of tokens burned over the past day.

According to the SHIB Shibburn protocol, just over 16 million SHIBs have been closed since yesterday, a daily increase of 2,161.77%. Shibburn data also revealed that hundreds of trillions of SHIB tokens were burned from the original meme asset supply.

Tokenization occurs when merchants intentionally remove tokens from the general supply of assets, either by sending them to hidden private wallets or by destroying them, as a means of deflation. electronic.

Market intelligence firm IntoTheBlock noted that the majority of SHIB holders are currently underwater. The crypto analytics firm found that 73% of investors holding a competitor's Dogecoin (DOGE) are in the red, while only 23% are in the blue.

Oct 28, 2022

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