The chief developer of the Shiba Inu coin and ecosystem, also known as Shytoshi Kusama in the community, has once more baffled the SHIB community. He has once more updated his location on the X app, this time designating China as his current location.
Shytoshi Kusama changes his location status again
Shytoshi’s X profile was shared with the SHIB community via the X app user @kuro_9696_9696’s profile. People started speculating in the comments as to what Shytoshi Kusama may be doing in China or whether he was only having fun with the SHIB army by altering the locations of various nations and towns in his X app.
The SHIB community previously noticed Shytoshi change his location status multiple times earlier this year. Niseko in late May used to be in Japan. He was reportedly on vacation at the time, unwinding before working diligently on Shibarium: “relaxing and enjoying like everyone else.”
https://x.com/kuro_9696_9696/status/1715407807527473248?s=20
Whopping 18 trillion SHIB moved by whales this week
Four large transactions totaling around 20 trillion SHIB were shovelled into the market this week, according to information provided by well-known cryptocurrency tracker Whale Alert. They each have an astounding 4.5 trillion Shiba Inu meme coins on them.
These massive transactions totaled more than $31 million each, or the equivalent of $124 million in fiat, in total. These transactions were place between untraceable wallets.
Two of these significant transactions occurred on Friday when 4.5 trillion SHIB were first delivered to one wallet and then moved from the same recipient’s address to another. Currently, just 12 whale addresses—some of which are owned by cryptocurrency exchanges—hold over 623 trillion SHIB. That makes up 63.48% of the SHIB supply that is currently available on the market.
SHIB burns in decline for second consecutive day
The Shiba Inu burn rate has stayed negative at this period for a second day in a row. With a total of 17,998,335 SHIB meme coins trapped in useless “inferno” wallets, today’s statistic reveals an overnight drop of over 55%.
13 burn transactions have been made so far, with the largest one sending 6,634,200 SHIB to a defunct blockchain address.
The burn rate decreased almost precisely the same amount on Friday. A approximate estimate places the number of Shiba Inu tokens that were destroyed at somewhat less than 50,000,000 SHIB.
According to information from CoinMarketCap, SHIB is currently trading at $0.000006978 after rising by 3.77% over the previous 24 hours.
