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4.4 Trillion SHIB Moved From Top Exchange After Shytoshi Kusama's Recent Warning

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Fri, 3/11/2023 - 13:12
4.4 Trillion SHIB Moved From Top Exchange After Shytoshi Kusama's Recent Warning
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Crypto tracking platform Whale Alert has spotted another astounding transfer of SHIB meme coins made from the Amsterdam-based crypto exchange Bitvavo.

An anonymous wallet owner has withdrawn a massive 4.4 trillion SHIB to an undisclosed wallet.

This happened a few days after the pseudonymous lead developer of the Shiba Inu dev team, Shytoshi Kusama, took to social media to address the SHIB army and give them a major warning.

$34.3 million worth of SHIB on the move

The unknown whale transferred a total of 4,454,530,677,374 Shiba Inu – a number of meme coins evaluated at a massive $34,314,122.

Earlier this week, the same data source also detected a similar transaction, carrying over 3.4 trillion SHIB, made from a Bitvavo wallet. However, details provided by Whale Alert showed that it was an internal transaction.

Overall, analytics data shared by IntoTheBlock aggregator shows that this week SHIB on-chain flows have seen a staggering growth of 1,666% - whales have become more active, moving their coins between wallets and also purchasing SHIB coins while the price remains way down. Since the inflow surge is positive, this may be a sign that inflows surpass outflows for large Shiba Inu holders.

Earlier this week, the mysterious leader Shytoshi Kusama published a post on social media, where he spoke of several things that are important for the SHIB army – further development of burns on Shibarium and how to increase the utility growth on this blockchain.

Kusama is certain that without actual use and utility of Shibarium, there will be no real burns of SHIB tokens. He sort of rebuked the community for awaiting a large amount of SHIB tokens to be burned miraculously.

He then touched on the topic of those in the crypto community who spread FUD about SHIB – fudders, he said, are turning away investors, partners and regular users from Shibarium. He called on fudders to stop before they bring a lot of harm.

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SHIB burns jump 1,359% overnight

As reported earlier, the important metric that every SHIB investor watches – the burn rate – has shown an impressive surge today.

Over the span of the past 24 hours, the SHIB community set fire to 115,759,009 SHIB. Notably, nearly all of this chunk was burned in just one transaction – 100,000,000 Shiba Inu. This pushed the burn rate up by 1,359%.

Another milestone that was reached this week is that the total amount of transactions on this Layer-2 blockchain has increased to a total of 3,780,336, showing that Shibarium's utility keeps growing.

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