An important transaction took place on the world’s largest cryptocurrency exchange. Accordingly, a Binance whale sent 20 trillion Shiba Inu (SHIB) tokens to another address. The event is the largest Shiba Inu transaction in history. Additionally, burns of the popular meme coin are on the rise as whale movements are happening. According to the latest data, SHIB’s burns increased by 155%. We have compiled the details for you.
The largest SHIB transaction in history took place
On-chain data reveals that one whale sent 20 trillion Shiba Inu. The Binance whale moved the tokens on Monday. Data from Blockchain analytics platform Etherscan cited the event. Accordingly, 20 trillion SHIB was worth $210 million at the time of the transfer. Whale sent the tokens to an external wallet for a fee of $0.61 from the cryptocurrency exchange Binance. Additionally, this event has ranked as the largest Shiba Inu transaction in history. An overview of the whale wallet shows that the anonymous owner currently has 48.7 trillion Shiba Inu savings in the wallet. At the time of writing, the token was trading at $0.00001023. According to this, the whale has 497 million dollars worth of meme coins in his wallet.
Whale activity rises based on Shiba Inu
Whale activity around SHIB has been on the rise recently. According to data from IntoTheBlock, the number of large Shiba Inu transactions has increased by 153% in the last 24 hours. Meme coin had 43 major transactions totaling over $100,000 in the last 24 hours. However, the price of the cryptocurrency continues to move in a downtrend. At the time of writing, the Shiba Inu is trading 4.21% lower than yesterday. However, considering the state of the general market, the status of meme coin seems normal. The leading cryptocurrency Bitcoin is down 0.32% in the last 24 hours and is currently changing hands at $20,208. However, Ethereum is also trading in the red. ETH is down 0.70% in the past day to $1,138.
SHIB burns on the rise
Shiba Inu’s burning continues at full speed. As we reported on Kriptokoin.com, the amount of tokens removed from circulation has increased significantly in the last 24 hours. Recently, Shibburn removed 112,647,175 SHIB tokens from circulation. However, more than 15 incineration processes emerged. This number is currently continuing to rise. A total of 208 million meme coins went out of circulation in the last 24 hours. Thus, SHIB’s burns increased by 155% in one day. Finally, Shibburn reported another burn. In the transaction that took place in the last hour, a total of 86,405,616 SHIBs were transferred to a dead wallet. It was noteworthy that the increase in burns took place in the same period as the increase in whale movements.
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