As a researcher with extensive experience in cryptocurrency markets and blockchain analysis, I find these recent transactions involving Shiba Inu meme coins intriguing. The sudden transfer of tens of billions of SHIB to major U.S.-based exchanges by anonymous whales is not an uncommon occurrence in the crypto world. However, the timing of these transfers, during a period when the market sentiment for SHIB seems bearish, raises some questions.
As a crypto investor, I’ve noticed some intriguing movements in the Shiba Inu market based on data from Etherscan. Unidentified whales have shifted vast amounts of this meme coin, totaling tens of billions, to major US exchanges like Coinbase and Kraken over the past few hours.
Whales deposit 41 billion SHIB
As a researcher studying the intriguing world of Shiba Inu (SHIB) holders, I’ve come across some noteworthy transactions. Approximately 17.3 billion SHIB, equivalent to around $296,079 in fiat currency, have been transferred to a wallet identified as “Coinbase 10.” Simultaneously, over 24 billion SHIB, or roughly $410,591, have been moved to a wallet labeled as “Kraken.”
Over the past 24 hours, the second largest meme cryptocurrency, Shiba Inu, experienced a 3% decrease in value and is now priced at $0.00001711. With SHIB trading flat this week as it attempts to regain the $0.00002 mark, large investors have been offloading their Shiba Inu holdings to minimize potential losses.
SHIB burn rate skyrockets
The Shibburn monitoring tool has reported a striking surge of 1,072% in the burn rate over the past 24 hours.
As a crypto investor, I’ve noticed that approximately 19.76 million SHIB tokens have been moved to unspendable wallets since this morning. This development is due to five separate SHIB burn transactions. The largest two transfers transferred 6.94 million SHIB each to inaccessible addresses on the blockchain. These transactions were executed by an anonymous wallet around five hours ago.
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2024-06-29 23:17