Interest surrounding the Shiba Inu [SHIB] ecosystem has been experiencing a remarkable surge. As the development of Shibarium progresses, the community has been diligently preparing for the imminent launch by amassing SHIB tokens to a significant extent. An intriguing development has emerged as a new whale has garnered attention by acquiring trillions of tokens in anticipation of the Shibarium release.
New data from Etherscan.io has revealed that the whale has bought a substantial amount of 4.41 trillion SHIB tokens. This transaction is worth about $40.41 million. It took place in a single transaction. Furthermore, the magnitude of this SHIB accumulation has propelled the whale to the 27th spot among other large SHIB holders.
Data sourced from IntoTheBlock indicated a prominent surge in large transactions within the Shiba Inu network. Notably, there has been a substantial 340.96% escalation in the volume of large transactions over the course of the past week. This further translated to a total amount of $50.81 million in terms of the asset’s value.
Additionally, SHIB experienced a significant price surge during the weekend. The meme coin successfully underwent a reduction in value by eliminating a zero, reaching a peak of $0.00001023. However, subsequent to a corrective phase, the asset’s price also dropped to $0.00000918. Furthermore, this situation added momentum to long positions being liquidated. In the past 24 hours, long liquidations totaled $477.26K, while short liquidations remained modest at $130.83K.
Also Read: Shiba Inu: Shytoshi Kusama Unveils Shib SSI Launch Details, Here’s When
97 Million SHIB tokens out of circulation
Token burns have played quite an important role in the Shiba Inu ecosystem. The entire community has been collectively burning a significant amount of SHIB on a daily basis. Furthermore, it appears that a significant amount was removed from circulation over the weekend. Recent data from Shibburn indicates that on Aug. 6, a total of 97,646,939 SHIB tokens were actively sent to inactive wallets. This was sent through 17 separate transactions.
Also Read: Shiba Inu: You Only Need $10 To Become a SHIB Millionaire
Credit: Source link
