According to data made public by the Arkham Intelligence platform, numerous enormous SHIB pieces were transported in less than an hour.
Approximately 200,000 SHIB were transmitted to dead-end wallets, or burnt, out of the total 553 million Shiba Inu meme coins that have been moved.
553 million SHIB on move
A little more than two-thirds of the whole amount—405 million Shiba Inu—was contained in the biggest SHIB lump present. It was transferred to an anonymous wallet from the Binance exchange. A SHIB contract sent 100 million SHIB in total to a wallet on the OpenSea NFT exchange.
Additionally, 111,000 Shiba Inu were transferred from Coinbase to a dead wallet, according to the Arkham tracker.
SHIB burn progress
In the previous day, 35,342,371 Shiba Inu coins have been transferred to dead addresses, which are unusable and cannot receive tokens, according to new data given by Etherscan and published by Shibburn tracker. The locked tokens immediately exit circulation as a result, lowering the amount of tokens available on the market.
The largest piece carried over half of the 35 million, or 16,901,258 SHIB, in total.
Shibarium launch might be month away, testnet sees major boost
In a recent blog post, the Shiba Inu leader going by the alias Shytoshi Kusama shared some information on the impending release of the Shibarium mainnet.
According to the Medium piece, Shiba Inu will sponsor the annual Eth Toronto conference, where Kusama will deliver a keynote using AI and important SHIB-branded initiatives will be formally unveiled.
Additionally, Kusama stated that it is quite possible that the launch of the Shibarium mainnet would be covered in depth there, and that the deployment will be place following the meeting. Earlier this week, the overall number of transactions on the Shibarium testnet known as Puppynet significantly increased.
The Shiba Inu dog-themed coin is now being traded for $0.000007546, according to information provided by CoinMarketCap. On this crypto reference platform, the currency is presently ranked number 18.
