Mysterious ‘buying’ activity of popular meme con’s Shiba Inu (SHIB) has been detected. Meanwhile, the SHIB burn rate increased by 250%. BitPay gave good news to those who shop with their prepaid cards using SHIB. Here are the details of the news…
Mysterious SHIB purchase activity detected
According to the CoinMarketCap chart, the Shiba Inu has seen a significant amount of ‘buying activity’ in a relatively short period of time.
SHIB transactions chart – top 100 holders / Source: WhaleStatsIn the last 24 hours, WhaleStats’ top 100 holders Shiba Inu transaction chart saw the highest transfer amount (37,372,660) recorded since July 15. Transfer numbers are 71, the highest figure seen in more than a month.
SHIB hourly chart / Source: TradingViewAs seen on the hourly chart, the Shiba Inu has printed a large green candle in the past hour. Prior to that, the Shiba Inu dip, which showed major activity, was purchased for $0.00001177.
Shiba Inu burn rate increased by 250%
As you follow on Kriptokoin.com, Shiba Inu has seen a surprising increase in trading volume on whale address. In this environment, the burn rate of the meme token also saw a huge increase. An anonymous individual whale has captured more than 300 billion SHIB. According to experts, this could have resulted in an increase in the number of tokens burned on the network.
As Shibburn showed, 170 million SHIB tokens have been burned since yesterday. This means an increase of 250%. Experts note that the increase in burned cryptocurrencies is associated with the increase in the price of the asset in the market.
Meanwhile, in the last 50 days, the Shiba Inu has gained more than 50% of its value. This has caught the attention of a large number of individual whales who are returning to purchase an enormous amount of Shiba Inu tokens, which could trigger the latest price spike.
Good news for Shiba Inu BitPay cardholders
Popular cryptocurrency payment provider BitPay has launched a cash back rewards program for prepaid card holders. In this context, it announced that it has partnered with Cardlytics. According to today’s announcement, the partnership will allow Bitpay cardholders to receive up to 15% cash back when purchasing goods from participating stores using their prepaid cards.
BitPay prepaid cardholders can spend any of their supported crypto assets, including Shiba Inu (SHIB) and Bitcoin (BTC) to earn rewards. Apart from Shiba Inu and Bitcoin, other BitPay supported digital currencies are Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP) and Bitcoin Cash (BCH), etc.
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