Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Since the end of last week, almost 2.5 billion Shiba Inu have been shoveled to dead wallets in an attempt to make the second biggest meme token more scarce and lift its price.
The price indeed went up roughly 20%, but it was not the numerous token burns that made the SHIB exchange rate spike yesterday.
2.41 billion SHIB moved to dead addresses
According to @shibburn tracking platform, since the end of last week, several massive amounts of Shiba Inu have been sent to "inferno" wallets, which add up to a comprised 2.41 billion SHIB tokens.
The biggest amount burned within a 24-hour period here was 1,351,643,000 tokens removed from circulation between April 8 and 9.
Other 24-hour "portions" of SHIB incinerated by various burn initiatives included 442 million, 258,294,131 SHIB and a few other big lumps of tokens burned. Besides, in the past 24 hours, a total of 324,040,132 Shiba Inu have been burned in nine transactions.
In the past 24 hours, there have been a total of 324,040,132 $SHIB tokens burned and 9 transactions. Visit https://t.co/t0eRMnyZel to view the overall total of #SHIB tokens burned, circulating supply, and more. #shibarmy
— Shibburn (@shibburn) April 13, 2022
SHIB soars 20% on Robinhood listing
On April 12, the popular Robinhood investment app with zero fees made an announcement that it had finally added support for Shiba Inu, as well as Solana (SOL), Polygon (MATIC) and Compound (COMP).
On the news of this listing, SHIB staged a rise of around 20%. The other coins also demonstrated a massive rise.
The SHIB Army had been requesting Robinhood to list its favorite meme token for several month with daily tweets and a petition on Change.org that has collected just over half a billion signatures in support.
Whale buys staggering sum of SHIB worth $21 million
WhaleStats Twitter account that shares data related to the top 100 wallets on Ethereum chain has spread the word about yet another astounding purchase of Shiba Inu coins by one of the largest ETH whales.
The owner of the "BlueWhale0073" wallet, which is ranked 12th by WhaleStats, has acquired a whopping 775,473,150,952 SHIB.
This significant purchase of meme tokens cost this whale $20,697,378, and it seems that it was made after Robinhood announced the addition of SHIB.
By now, the wallet of the whale contains zero Shiba Inu, though they likely sold on the massive price rise demonstrated by the canine coin after the listing on Robinhood to gain profit.
????? ETH whale "BlueWhale0073" just bought 775,473,150,952 $shib ($20,697,378 USD).
— WhaleStats - BabyWhale ($BBW) (@WhaleStats) April 13, 2022
Ranked #12 on WhaleStats: https://t.co/RBupemZyZX
Transaction: https://t.co/6w1imobFv5#SHIB #ShibArmy
Arman Shirinyan
Alex Dovbnya
