Nearly half a trillion SHIB was transferred by an anonymous wallet to another address
10 hours ago, as per data shared by Etherscan, a massive 417,436,468,992 SHIB were transferred.
In the meantime, the total amount of SHIB burned in the past 24 hours has faced a staggering plunge.
417.3 billion SHIB is moving forward, 3 trillion bought
As nearly half a billion Shiba Inu meme coins were sent in a single transaction, details provided by Etherscan show that it was a transaction from one Binance wallet to another. The legal equivalent of this amount is $4,186,887.
Exchanges and whales have become active recently, moving around large amounts of Shiba Inu. On October 18, a notable sum of SHIB was transferred to a blank wallet, carrying 3,388,119,787,804 meme coins. Thus, the market may have witnessed an emergence of a new SHIB whale. This amount of meme coins is worth $34,887,130.
SHIB burns less
According to a recent tweet published by the Shibburn Twitter account, which tracks the removal of the SHIB from circulating supply, only 10,343,321 Shiba Inu coins have been burned during the last 24-hour period.
More recent data from their website, shows a number twice as big – 25,991,998 SHIB, showing that the burn rate of the meme coin has increased by 649.92 percent.
Nevertheless, the overall pace of burning SHIB by the community is much lower than in the summer, when at least 100 million coins were burned daily and one or two billion SHIBs were exhausted in a week.
Now, that the second biggest meme token SHIB is trading 88.63 percent lower than its all-time high of $0.00008845 reached in late October last year, it would seem like a good opportunity to burn Shiba coins. However, the community does not seem in a rush to do that, while whales continue to earn profits on trading millions and billions of Shiba Inu.
