Shiba Inu Burn Rate Plunges 100% — Largest Whale Moves $30M Worth Of SHIB To 8 Fresh Wallets
Portfolio Pulse from Mehab Qureshi
A large holder of Shiba Inu (CRYPTO: SHIB) tokens transferred 4 trillion SHIB, valued at $29.8 million, to eight new addresses. This is the first significant move by the whale in over 600 days. The whale also made a purchase using 38 Ethereum (CRYPTO: ETH) worth around $14,000 and sold around 603 billion SHIB for approximately 2,411 ETH, valuing the transaction at $9.6 million. The whale still retains 101.47 trillion SHIB, valued at $756 million, distributed across 23 different wallets. The burn rate of SHIB tokens has dropped over 100% in the last 24 hours.
July 13, 2023 | 7:12 am
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NEGATIVE IMPACT
A large SHIB holder has made significant moves, including a large transfer and a drop in the burn rate of SHIB tokens.
The large transfer of SHIB tokens and the drop in the burn rate could potentially lead to a decrease in the price of SHIB in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
The whale used Ethereum for a significant transaction, indicating active use of the cryptocurrency.
The whale's use of Ethereum for a significant transaction indicates active use of the cryptocurrency, but it's unclear how this will affect Ethereum's price in the short term.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50