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Whale Moves Trillions of SHIB as Hardly Any SHIB Gets Burned Today

Fri, 11/04/2022 - 14:59
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Yuri Molchan
Astounding amount of Shiba Inu was shoveled by cryptocurrency whale as coin's price reverses
Whale Moves Trillions of SHIB as Hardly Any SHIB Gets Burned Today
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Whale Alert blockchain platform, which tracks large crypto transfers as they occur, has spread the word that a mind-blowing 3.3 trillion Shiba Inu canine coins have just been moved from one anonymous address to another.

3.3 trillion SHIB moved to new wallet

According to Etherscan, the sending address is now empty as all of the 3,368,267,529,701 SHIB were moved to a blank new wallet, which may be considered a newly born SHIB whale now. This is the equivalent of $41,730,561.

The top 100 whales on the Ethereum chain are now holding $100,114,312 worth of Shiba Inu in their wallets, according to data shared by WhaleStats wallet tracking platform. This is 3.86% of their comprised portfolio.

SHIB burn rate plunges drastically

Shibburn platform, which traces transfers of SHIB to "inferno" wallets, has shared that over the past 24 hours, less than 500 million Shiba Inu were moved out of circulation and into dead-end addresses.

The burn rate of this meme coin has plunged by nearly 100%. On Nov. 3, Shibburn reported that 22,248,144 SHIB were sent to dead wallets. During the period of the past 24 hours, this amount has shrunk to merely 424,268 meme coins — unless something is wrong with the burn tracker today.

Image via Shibburn

Shiba Inu's Recent Mysterious Tweet Provokes Ambiguous Reaction from SHIB Army

SHIB price reverses after mild fall

Earlier today, Shiba Inu added 10% on an hourly chart, printing a massive green candle. The price then took a dive of 4.1% and is now on the rise again.

Shiba Inu has gone up 2.5%, trading at $0.00001217 on the Coinbase exchange. SHIB broke away from its correlation to Dogecoin, and while DOGE began plunging, SHIB started going up, as the community is expecting the release of the Layer 2 solution Shibarium.

Besides, the recently launched Shiba Eternity collectible card game has reached a new milestone of roughly 250,000 downloads globally.

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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