Advertisement
AD

Main navigation

Whopping 20 Trillion Shiba Inu (SHIB) Moved by Anon Wallets as Meme Token Season Continues

Advertisement
Wed, 17/05/2023 - 12:22
Whopping 20 Trillion Shiba Inu (SHIB) Moved by Anon Wallets as Meme Token Season Continues
Cover image via www.freepik.com

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.

Read U.TODAY on
Google News
Contents
Advertisement

Popular crypto tracking platform Whale Alert, which traces large crypto transactions and scam transfers, has announced that over the past 15 hours, an astounding amount of popular meme coin Shiba Inu has been moved.

The senders and receivers are marked by the tracker as unknown wallets. It may show that the community is still very interested in meme coins, and their season continues now even after PEPE collapsed more than 50% from its ATH on May 5.

20 trillion Shiba Inu on the move

The above-mentioned wallet tracker spotted four consecutive transactions bearing five trillion SHIB each. This is the equivalent of $43,615,000. Therefore, all-in-all, approximately $174.4 million worth of meme coins have been moved with these transfers.

The crypto community responded with a wave of comments to all of these transfers, wondering what may be happening and who is transferring these staggering lumps of Shiba Inu.

The size of the transfers may indicate, however, that these are internal transactions of a major crypto exchange. Earlier this year and at the end of 2022, Binance admitted to making big SHIB transactions among its own crypto wallets.

SHIB_whalealert00_SHIBwhales00wqewgrwpri4
Image via Twitter

Related
Shiba Inu's (SHIB) 'Death Line' Might Cause True Horror on Market

Three billion SHIB burned in one go

According to data shared by Shibburn tracker of burn transactions, on May 16, an anonymous wallet managed to remove a whopping 3,016,073,367 SHIB from the circulating supply.

This pushed the burn rate of the prominent meme coin a surprising 26,000%. Over the past 24 hours, though, this record has gone down as the burn rate dropped below zero — down 99.93% as only as few as 1,980,000 Shiba Inu tokens have been burned.

At the time of this writing, SHIB is changing hands at $0.0000869 on the Binance exchange. As reported by U.Today earlier, Shiba Inu has printed a Death Cross pattern, which is likely to be a negative indicator for the SHIB price in the near future.

Advertisement
TopCryptoNewsinYourMailbox
TopCryptoNewsinYourMailbox
Advertisement

Latest Press Releases

Our social media
There's a lot to see there, too

Popular articles

Advertisement
AD