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.
As reported by Twitter user @shibaplay_, which represents a burn project driven by the SHIB community, over the past 20 hours, an eye-popping amount of these popular meme coins has been shoveled by large Ethereum wallets.
The largest single chunk of crypto totaled a whopping 1,926,012,699,342 SHIB equated to $17,623,016.
Whale alert 🚨: 1,926,012,699,342 $SHIB transferred.
— ShibaPlay (@shibaplay_) December 13, 2022
check details 👇🏻 https://t.co/2LWmOo9AxH
Whales redistribute 2.2+ trillion SHIB, sending some to exchanges
Data provided by Etherscan shows that more than 2.2 trillion Shiba Inu coins have been moved in quite a short period of time – five transactions overall. Two of them moved Shiba Inu to major crypto exchanges.
A total of 82,079,564,000 SHIB were transferred to the largest U.S.-based crypto trader Coinbase (a publicly traded company as of April 2021). Most likely, the goal of this transaction was selling on Coinbase. This is the equivalent of $751,028.
Whale alert 🚨: 82,079,564,000 $SHIB transferred.
— ShibaPlay (@shibaplay_) December 13, 2022
check details 👇🏻 https://t.co/NtnoBwQxUV
The second transfer took 81,606,470,665 SHIB worth around the same as above to the OKX digital exchange, according to Etherscan.
The largest stash of SHIB spotted by Etherscan here was the aforementioned 1.9 trillion – it was moved between two wallets with unregistered owners. Two transactions, each carrying 100,000,000,000 SHIB, also took crypto from one anonymous wallet to another.
Burn rate drops 95%
According to recent data published by major burn tracking platform Shibburn, which from time to time also does its own SHIB burning and runs several projects that help them do it, things with the overall SHIB burn rate have not been doing well in the past 24 hours.
Over that recent period of time, the joint efforts of the SHIB community have made it possible to burn only as little as 2,000,000 meme coins. This means that compared to the previous 24 hours, the burn rate is down more than 95%.
Still, the SHIB price has been rising gradually. According to data provided by CoinMarketCap, the second most popular meme coin now is trading at $0.000009144 after a 4+ percent rise in the past 24 hours.
Vladislav Sopov