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421.6 Billion SHIB Sold by Mysterious Whale as Price Close to Burning Zero – U.Today

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According to a recent tweet published by the @spotonchain analysis platform, in the past 20 hours, whales that held about 5 trillion Shiba Inu meme coins have sold them at a huge loss.

Meanwhile, the second largest meme-inspired cryptocurrency, Shiba Inu, is approaching levels that could burn the fifth zero in its price.

Mysterious whale deposits 421.6 billion SHIB into Binance

According to the above tweet from the on-chain data source, Whale sold a total of 421.6 billion units at an average price of $0.000009437. The sale took place on both Binance and DEX (probably Binance DEX in this context). 311.6 billion Shiba Inu were sold on the Binance exchange and 110 billion SHIB was disposed of through DEX.

Additional data provided by @spotonchain besides the tweet shows that this mysterious whale purchased hundreds of billions of these SHIB on HTX and Binance in November 2021. Before the current sale, Whale held them for almost two and a half years.

According to the analytics platform, if the sale were to happen, the whale would incur a huge loss of $6.32 million.

SHIB price is close to zero

Today’s popular meme-themed cryptocurrencies SHIB rose 3%it is very close to the $0.00001 level and will burn one zero.

On Tuesday, SHIB reached $0.0000993, moving even closer to crossing that threshold. Since then, until early today, the Shiba Inu meme coin has fallen by almost 6%.

As of this writing, Shiba Inu has changed hands at $0.00000962 on the Binance exchange.

SHIB burst stage rise

Sibburn Transaction trackers disseminate information about recent increases in SHIB burn rates. However, this is small. 55.12% total of 52,059,153 SHIB was transferred to an unusable wallet with zero possibility of withdrawal. The largest write here occurred 6 hours ago, when 42,058,800 SHIB was sent to a dead-end blockchain address. The second largest carried 9,992,557 SHIB.

On Friday, the daily SHIB burn increase accounted for 8,512%, with 86.1 million meme coins traded at zero SHIB addresses.

About the author

Yuri Molchan

Yuri is interested in technology and innovation. He has been writing about his DLT and cryptocurrencies since 2017. He believes blockchain and cryptocurrencies have the potential to change the world in the future in many aspects. He has contributed to multiple crypto media. His articles have been cited by crypto influencers such as Tyler Winklevoss, John McAfee, CZ Binance, and Max Kaiser.

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