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Trillions of Shiba Inu (SHIB) Moved From Binance US, Here's What's Happening

Thu, 07/20/2023 - 09:42
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Yuri Molchan
Gigantic transactions shifting almost 2.5 trillion of SHIB spotted, made from Binance's subsidiary in US
Trillions of Shiba Inu (SHIB) Moved From Binance US, Here's What's Happening
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Popular blockchain tracking service Whale Alert, which tracks large crypto transactions, has detected a massive amount of Shiba Inu meme coins moved from the Binance.US exchange. This transaction is worth no less than $18,771,570 USD.

In the meantime, SHIB keeps losing positions on the market and has been pushed back to 20th place by market cap, despite the upcoming launch of its Layer 2 blockchain, Shibarium.

2.4 trillion SHIB sent from Binance.US

Per data shared by Whale Alert, a total of 2,416,836,656,676 SHIB was transferred from the crypto exchange in a single transaction 11 hours ago.

Whale Alert shows that these trillions of SHIB were transferred to an anonymous wallet. However, details provided by Arkham Intelligence show that this address belongs to Binance.US. This platform shows multiple transfers of SHIB between the internal wallets of this leading crypto exchange.

Still, the aforementioned transaction that carried 2.4 trillion SHIB was not mentioned by Arkham, just showing thousands and millions of Shiba Inu moved by the Binance.US exchange internally.

SHIB burn rate plunges

The Shibburn explorer demonstrates that the efforts of the SHIB army to reduce the circulating supply have been diminishing. Over the span of the past 24 hours, these efforts have helped to burn 84,946,889 SHIB.

In terms of percentage, this is 22.16% less than what was destroyed on Wednesday, when the SHIB army managed to set more than 100 million Shiba Inu tokens on fire.

As reported by U.Today, on Wednesday, a dormant SHIB whale had awakened and transferred a chunk of more than 77.5 million SHIB to a dead wallet. The sending address had remained inactive for roughly 2.2 years, according to the data provided by Etherscan.

Overnight, the largest single amount of Shiba Inu burned by SHIB enthusiasts and whales totaled 33,006,524 SHIB meme coins. Overall, there have so far been 20 transactions that have burned the aforementioned 85 million Shiba Inu.

Dormant SHIB Wallet Awakens to Help Burn 113 Million Shiba Inu: Details

SHIB price performance

After losing nearly 8% over the weekend, the second biggest meme coin Shiba Inu has been trading in a range, unable to surpass the $0.00000784 resistance and staying above the $0.00000765 support line.

As reported by U.Today, earlier this week, the Shibarium testnet known as Puppynet surpassed a milestone of 30 million transactions, while the number of linked wallets has not been growing recently, sticking to the 17 million mark.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at