Based on a recent Santiment report, the official SHIB team social media marketing specialist, also known as Lucie on social media, has issued an optimistic declaration regarding Shiba Inu’s long-term prospects.
Recent statistics of several cryptocurrencies being removed from exchanges in significant quantities and the top 10 exchange wallets losing their cryptocurrency were shared by this on-chain data aggregator. Among those virtual currencies is Shiba Inu. The amount of SHIB owned by the top 10 wallets at the time was also highlighted in the study.
Bullish long-term signal for SHIB
According to Santiment’s tweet, market players are presently concentrating on ADA and SOL. But a lot of people are also keeping a close eye on Dent (DENT), FetchAI (FET), Ethereum (ETH), and Shiba Inu (SHIB) as these currencies are being removed from the top 10 cryptocurrency exchange wallets by the top 10 blockchain wallets.
https://x.com/LucieSHIB/status/1738135541386756225?s=20
The tweet said that this is typically regarded as a long-term positive indicator. The biggest SHIB wallets have lost $54.6 million in meme coins (5,180,265,654,648 SHIB) during the last three months as a result of aggressive withdrawals made by nonexchange whales during that time. More than 177 trillion SHIB connected to exchanges are held by these blockchain addresses together.
Exchanges have deleted $778.7 million worth of Ethereum, $48.2 million worth of FET, and $867,500 worth of DENT in addition to SHIB.
SHIB burn rate skyrockets, here’s why
As previously reported by U.Today, in only the past day, a whopping 8,593,932,621 SHIB meme coins were moved to a virtual furnace, causing the Shiba Inu burn rate to soar by 161,540%.
The Shiba Inu team carried out one of the major scheduled SHIB burns that was previously announced, sending virtually all of these SHIB—8,533,564,693 meme coins—to unspendable blockchain wallets, according to information published by Etherscan.
The mysterious developer Shytoshi Kusama headed the SHIB team that made two burns earlier this month, taking more over eight billion SHIB coins out of circulation each time.
Kusama verified in a tweet over the weekend that billions of SHIB are getting ready to be roasted. He continued by saying that the SHIB army has to increase the use and use of shibarium in order to begin carrying out significant burns.
