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176 Million SHIB to Be Burned in 3 Days, 34,000 BTC Moved from Whale Addresses, Shiba Inu Network Growth Turns Bullish: Crypto News Digest by U.Today

Thu, 12/23/2021 - 15:25
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Valeria Blokhina
What’s new in the world of crypto? Read U.Today’s news digest to find out!
176 Million SHIB to Be Burned in 3 Days, 34,000 BTC Moved from Whale Addresses, Shiba Inu Network Growth Turns Bullish: Crypto News Digest by U.Today
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Here are the top four news stories over the past day.

176 million SHIB to be burned on Dec. 26

According to Steven Cooper’s tweet, his company, the Bigger Entertainment crypto record label, is going to burn 176 million SHIB at the "burn party" that will take place on Dec. 26. Previously, he urged the SHIB community to purchase $5 tickets to the burn party, stating that the SHIB equivalent of the cash gained would be burned by his team at the next “burn party.”

Since October, Bigger Entertainment has destroyed 641 million Shiba Inu coins.

Almost 900 Million SHIB Tokens Burned Today

More than 34,000 BTC transferred from whale addresses in 24 hours

After Bitcoin managed to surpass the $49,000 level, Whale Alert tracking service detected two huge transactions carrying 34,000 BTC, worth approximately $1.7 billion. Anonymous whales were moving Bitcoins from their wallets to Coinbase, Xapo, and other exchanges. Other transactions saw whales moving BTC from Coinbase to wallets.

Meanwhile, El Salvador, the first country in the world to make Bitcoin a legal tender, has added 21 BTC to its crypto holdings. There are now 1,141 Bitcoins in the country’s treasury.

Shiba Inu whales bought more than $200 million worth of tokens amid asset’s 22% run

SHIB facing a 22% price spike has fueled the creation of a $200 million demand; the latest WhaleStats data shows that in less than a week, large investors, also known as whales, have bought approximately $200 million worth of Shiba Inu tokens. Total holdings are now worth more than $1.8 billion, which is approximately $300 million short of the previous ATH. However, while the market is reacting positively to the whale buying spree, overall volatility on Shiba Inu is nowhere near October levels.

At the moment, SHIB is trading at $0.00003606, according to CoinMarketCap.

Shiba Inu Now Supported by NiceHash's Exchange

Shiba Inu’s network growth flips bullish

Despite the market volatility experienced in early December, more Shiba Inu holders have held onto their coins recently. According to WhaleStats, the current number of Shiba Inu holders has reached 1,080,058, setting a new record. From the perspective of primary growth, the increase in the number of users may be a healthy sign, even though it does not directly impact the token.

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About the author

Valeria is the community manager at U.Today. She is a crypto enthusiast and believes that cryptocurrency is the future of finance. Currently, Valeria covers the latest news in the world of crypto and blockchain.