20 Trillion Shiba Inu (SHIB) On the Move: Anon Wallets Drive Meme Coin Momentum

The post 20 Trillion Shiba Inu (SHIB) On the Move: Anon Wallets Drive Meme Coin Momentum appeared first on Coinpedia Fintech News

Trillions of Shiba Inu are on the move, according to the latest on-chain data. The move by anonymous whales has definitely raised suspicion about the nature of the transaction. According to the latest details from Whale Alert, there has been a movement of 20 trillion Shiba Inu by anonymous wallets.

The details from the tweet reveal that there have been four separate transactions between anonymous wallets. All these four transactions involved the movement of 5 trillion SHIB, totaling the moved SHIB to a whopping 20 trillion. At press time, these transactions had occurred exactly 17 hours ago. Each of these transactions is valued at $43,615,000, which brings the value of the moved SHIB to $174.4 million.

The recent transfers of a substantial amount of Shiba Inu (SHIB) tokens have sparked curiosity and discussion within the crypto community. Many individuals are speculating about the motives behind these transfers and the identities of those responsible. However, considering the large volume of tokens involved, it is possible that these transfers are internal transactions within a prominent cryptocurrency exchange. 

Shiba Inu burn rate nose dives after 3 billion SHIB burns

In other Shiba Inu news, the burn rate has taken a nose dive. According to the latest data from Shibburn, there has been a significant drop in the coin’s burn rate. Following the burning of 3 billion SHIB tokens two days ago, the burn rate has plummeted by a staggering -99.93%. In the last 24 hours, only 1,980,000 SHIB were sent to dead wallets.

The inconsistent burn activity has often been criticized by the SHIB army. On certain days, the burn rate soars, while on other days, there is a consistent drop. However, it is anticipated that it will change and be consistent after the launch of the much-awaited Shibarium. Shiba Inu is also not faring well amidst the meme coin frenzy. The price of SHIB has dropped by 1.8% in the last 24 hours and is trading at $0.000008649, according to CoinMarketCap data.