Shiba Inu (Shiba) news

Significant SHIB Transaction Unveiled: Mysterious Whale Sells 421.6 Billion SHIB on Binance

In a recent tweet by analytics platform @spotonchain, over the past 24 hours, a whale holding nearly half a trillion SHIB tokens has initiated a substantial sell-off. Simultaneously, the second-largest meme-inspired cryptocurrency, Shiba Inu, inches closer to a level where the fifth zero in its price could be burned.

The tweet, drawing data from the mentioned blockchain source, reveals that the whale sold a total of 421.6 billion SHIB at an average price of $0.000009437. The sale occurred on both Binance and DEX (likely Binance DEX in this context), with 311.6 billion SHIB sold on Binance and 110 billion SHIB disposed of through DEX.

Mysterious Whale’s History Unveiled

Additional data from @spotonchain post-tweet indicates that this enigmatic whale had acquired hundreds of billions of SHIB on HTX and Binance in November 2021. Prior to the current sell-off, the whale had held these tokens for approximately two and a half years. The analytics platform suggests that in case of a real sell-off, the whale would incur a significant loss amounting to $6.32 million.

SHIB Price Nears Removal of a Zero

The popular meme coin SHIB has witnessed a 3% surge, approaching the $0.00001 level where the elimination of one zero is anticipated. On Tuesday, SHIB came close to breaking this threshold, reaching $0.0000993. However, since then and until earlier today, the Shiba Inu meme coin experienced an approximately 6% decline.

As of writing this article, the price of Shiba Inu is trading at $0.00000962 on Binance.

SHIB Burns Surge Amidst Recent Uptick

News circulates about the recent increase in SHIB burn rates. However, they remain marginal, with 55.12% of the total 52,059,153 SHIB converted into non-spendable wallets with zero withdrawal possibilities. The second-largest burn involves 9,992,557 SHIB.

Read more Shiba Inu Developer Unveils Exciting Developments Amidst SHEboshis NFT Sale

The most substantial burn event occurred six hours ago, where 42,058,800 SHIB was sent to a locked blockchain address. Friday witnessed a daily burn increase of 8,512%, with 86.1 million meme coins dealt to zero-balance SHIB addresses.

Important Notice: Disclaimer Regarding Financial Advice
The information presented in this article is intended solely for informational purposes and should not be considered as financial advice. disclaims any responsibility for investment decisions made by individuals relying on the information provided herein. It is highly recommended to consult with a qualified professional or financial advisor before making any investment decisions. Your financial well-being is crucial, and seeking expert guidance ensures that your investment choices align with your individual financial goals and risk tolerance.

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