Burn

Kusama

Bitcoin

Shiba Inu

Trillion

<ul>
 <li><strong>A comparable transaction involving more than 3.4 trillion SHIB was also identified this week.</strong></li>
 <li><strong>A whopping 4.4 trillion SHIB were moved from Bitvavo to a wallet owned by an unknown user.</strong></li>
</ul>
<p>Whale Alert has discovered yet another incredible transaction of <a href="https://thenewscrypto.com/shiba-inu-volume-rallies-22-on-binance-as-bull-run-persists/" target="_blank" rel="noopener noreferrer nofollow">SHIB</a> from cryptocurrency exchange <a href="https://bitvavo.com/en" target="_blank" rel="noopener noreferrer nofollow">Bitvavo</a>. A whopping 4.4 trillion SHIB were moved from Bitvavo to a wallet owned by an unknown user.</p>
<div align="center">
 <blockquote class="twitter-tweet">
  <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"> <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"> 4,454,530,677,374 <a href="https://twitter.com/hashtag/SHIB?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#SHIB</a> (34,314,122 USD) transferred from <a href="https://twitter.com/hashtag/Bitvavo?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitvavo</a> to unknown wallet<a href="https://t.co/vySQ16pctv" rel="noopener noreferrer nofollow">https://t.co/vySQ16pctv</a></p>— Whale Alert (@whale_alert) <a href="https://twitter.com/whale_alert/status/1720381506462298347?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">November 3, 2023</a>
 </blockquote>
 <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div>
<p>In total, the mysterious whale sent 4,454,530,677,374 SHIB, worth a whopping $34,314,122. A comparable transaction involving more than 3.4 trillion SHIB was also identified this week, coming from a Bitvavo wallet, tracked by Whale Alert. Information given by Whale Alert, however, indicated that this was an internal transaction.</p>
<p>SHIB on-chain flows have increased by a remarkable 1,666% this week, according to analytics data published by aggregator IntoTheBlock. This is likely due to increased activity from whales who are transferring tokens between wallets and buying SHIB coins while the price is still very cheap.</p>
<h3 class="wp-block-heading" id="burn-rate-surge">Burn Rate Surge</h3>
<p>The Shiba Inu ecosystem’s lead developer, <a href="https://thenewscrypto.com/blockchain-news-shytoshi-kusama-provides-key-update-on-scalability-of-shibarium/" target="_blank" rel="noopener noreferrer nofollow">Shytoshi Kusama</a>, released a social media post earlier this week in which he discussed various topics of significance to the group, including the improvement of burns on <a href="https://shibarium.shib.io/" target="_blank" rel="noopener noreferrer nofollow">Shibarium</a> and the promotion of the blockchain’s value.</p>
<p>Kusama is certain that there would be no genuine burning of SHIB tokens until Shibarium is put to practical use. He indirectly criticized the community for hoping for a miracle burn of a big number of SHIB tokens.</p>
<p>He then discussed how naysayers in the cryptocurrency world are discouraging potential investors, business partners, and retail Shibarium users. The burn rate has increased significantly today. The SHIB community has burned up 101,615,980 SHIB in the last 24 hours. The result was a 389.54% burn rate increase.</p>
<p><strong>Highlighted Crypto News Today:</strong></p>
<p><a href="https://thenewscrypto.com/bitcoin-remains-stable-amid-u-s-unemployment-rate-hits-3-9/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin Remains Stable Amid U.S Unemployment Rate Hits 3.9%</a></p>

Massive 4.4 Trillion SHIB Transfer Discovered by Whale Alert

Table of Contents

TheNewsCrypto

Other articles published on Nov 3, 2023

Trust Wallet Token (TWT) Jumps Following Binance Futures Listing

Ripple Achieves Regulatory Approval To Offer XRP Services

Bybit Achieves ‘AA’ Rating in CCData’s Crypto Exchange Benchmark Report

Bitcoin Spark Astounding ICO Bonus Likely To Line Up With Strong Altcoin Bull Market

Hong Kong to consult banking guidelines for virtual asset custody services

Binance Removes 22 Liquidity Pools from Binance Liquid Swap

Join our free newsletter for daily crypto updates!