Mysterious Shiba Inu Whale Moves $38M Worth Of Tokens Following Shibarium Revival
Portfolio Pulse from Mehab Qureshi
A Shiba Inu (CRYPTO: SHIB) whale has transferred 4.64 trillion tokens, equivalent to approximately $38 million, following the revival of the project’s layer-2 scaling solution, Shibarium. The number of addresses using Shibarium has reached 447,076. Over 52 million SHIB tokens were burned within the last 24 hours, potentially impacting the ecosystem dynamics. SHIB was trading at $0.00000802, down 1% in the last 24 hours.
September 01, 2023 | 3:11 am
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NEGATIVE IMPACT
A large transfer of Shiba Inu tokens and the burning of over 52 million tokens could impact the price and ecosystem dynamics of SHIB.
The large transfer of tokens by a Shiba Inu whale and the burning of over 52 million tokens could create price volatility and impact the ecosystem dynamics of SHIB. The burning of tokens reduces the circulating supply, which can potentially increase the price if demand remains constant or increases. However, the price of SHIB has decreased by 1% in the last 24 hours.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100