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Trillions of SHIB on Move as SHIB Price Burns Zero, Community Excited

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Sat, 9/12/2023 - 8:34
Trillions of SHIB on Move as SHIB Price Burns Zero, Community Excited
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Major cryptocurrency tracking bot Whale Alert, which traces crypto transfers initiated by whales and crypto exchanges, has revealed details of an enormous meme coin transaction, which carried several trillions of Shiba Inu coins.

In the meantime, the SHIB price has demonstrated a big enough increase to burn one zero. The SHIB army responded enthusiastically to the tweet about the big SHIB transfer.

Trillions of SHIB exchange anonymous hands

According to the source mentioned above, slightly less than 16 hours ago, an astounding SHIB chunk comprising 4,238,953,460,450 Shiba Inu in total was transferred between whales’ wallets — both were tagged as “unknown.”

The overall evaluation of these trillions of meme coins surpasses $42.2 million in fiat currency.

Since no crypto exchanges were mentioned here by Whale Alert, this could be an OTC trade or a whale distributing their crypto riches between different blockchain addresses.

This fall, Whale Alert reported multiple SHIB transfers similar to this one when more than three (sometimes four) trillion Shiba Inu were transferred; they were withdrawn from centralized crypto exchanges, moved between anonymous wallets, or transferred by exchanges internally.

Now, as SHIB has begun going up in a big way again, the above-mentioned transaction could signify the fact that big market players are again beginning to show interest in Shiba Inu as a leading meme cryptocurrency, which recently even proved to be more than just a meme with all its major developments and impact on the crypto space.

The lead developer of SHIB, the pseudonymous Shytoshi Kusama, was recently included in the prestigious list of the top 50 crypto influencers by CoinDesk.

Related
Top 10 SHIB Wallets Revealed, Here's Who Holds Biggest Shiba Inu Chunk

SHIB price disposes of zero

This week has been rich in Shiba Inu’s attempts to break out and fix above the $0.00001 level. It staged a massive 16.22% rise, reaching the resistance at $0.00001040 on Tuesday. A 9.71% decline followed this surge.

Over the past two days, the second largest meme cryptocurrency has increased over 10%, hitting $0.00001042 again and thus again burning a whole zero from its price.

This week, the Shiba Inu team made a more than generous contribution to SHIB burns, sending a whole 8.2 billion SHIB to the dead-end blockchain address, the first time since the launch of Shibarium. The burned billions of SHIB were likely transaction fees converted from BONE into SHIB.

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