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SHIB Metaverse Team to Release Update, Robinhood's DOGE Supply Sees Big Decline, 1 Million SHIB Addresses Suffer Losses: Crypto News Digest by U.Today

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Mon, 29/05/2023 - 16:25
SHIB Metaverse Team to Release Update, Robinhood's DOGE Supply Sees Big Decline, 1 Million SHIB Addresses Suffer Losses: Crypto News Digest by U.Today
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U.Today has prepared a summary of the top three news stories over the weekend. Don't miss anything important in the crypto industry!

SHIB Metaverse team about to release long-promised update: details

As shared by Shiba Inu Metaverse advisor Marcie Jastrow on Saturday, May 27, the team is getting ready to finally release a video overview of one of the hubs, called Rocket Pond. Jastrow then wrote that she cannot wait to present the hub to the community and promised that they will love it. The first release of the concept art of the Rocket Pond hub was made in September 2022, and about a month ago, Shiba Inu's official Twitter handle announced the upcoming release of the video preview of Rocket Pond, which was expected within "only few days."

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$2 billion in DOGE held by Robinhood now after big decline in its Dogecoin supply

According to a tweet by the @DogeWhaleAlert wallet tracker, the amount of DOGE in Robinhood's wallets decreased by 8%, reaching 16% of the dog-themed cryptocurrency's circulating supply. Last month, Robinhood was reported to hold 24% of the circulating supply on behalf of its customers. At the moment, the trading platform's wallets contain 22,641,958,530 Dogecoin worth $1,614,439,569. As explained by @DogeWhaleAlert, this DOGE supply decline refers to massive outflows of Dogecoin from Robinhood conducted earlier. Back then, a combined 5,700,000,000 DOGE were withdrawn from Robinhood and moved to anonymous addresses.

1 million Shiba Inu (SHIB) addresses officially suffer losses

Data provided by IntoTheBlock demonstrates that the number of Shiba Inu holders experiencing losses has reached one million, or 79.86% of all addresses associated with the SHIB token. These addresses collectively hold 887.86 trillion SHIB, which constitutes 90.31% of the total Shiba Inu token supply. However, 410.35 trillion SHIB are intended for burning, which makes them unusable. More than a third of the one million addresses incurring losses are attributed to investors who bought SHIB within the price range of $0.000009 to $0.000014. These users amount to 363,670 wallets, collectively holding 262.88 billion Shiba Inu tokens.

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