Shiba

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Shiba Inu

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<ul>
 <li>SHIB hits new highs as whale investors boost its value by 2.26% in 24 hours to $0.00001072.</li>
 <li>Influential whales withdraw significant SHIB amounts, potentially reducing its circulating supply.</li>
 <li>Massive token movements align with plans to burn SHIB tokens, aiming to reduce circulating supply.</li>
</ul>
Shiba Inu (SHIB) has recently skyrocketed to <a href="https://coinmarketcap.com/currencies/shiba-inu/" rel="noopener noreferrer nofollow">new highs</a>, marking a 2.26% surge within a 24-hour period, pushing its value to $0.00001072. This meteoric rise can be attributed to influential whale investors making significant moves within the SHIB ecosystem.
Among these key players is the ‘Smart Money’ investor, whose recent withdrawal of a whopping 2.28 trillion SHIB from Binance to an undisclosed wallet has sparked intrigue in the crypto community. Additionally, Tron’s founder, Justin Sun, has also joined this wave by removing over 577 billion SHIB from the trading platform.&nbsp;
Such substantial movements of SHIB tokens by these influential figures have the potential to significantly impact the token’s circulating supply dynamics. These whale activities coincide with ongoing discussions and efforts within the SHIB community to reduce the token’s circulating supply.&nbsp;
Plans to burn SHIB tokens have gained momentum, aiming to curtail the available tokens in circulation. The SHIB team has laid out intentions to initiate an automatic burn portal, slated for activation by 2024. These initiatives align with the substantial movement of tokens by influential whales, indicating a collective effort toward reducing SHIB’s supply.
The strategic reduction in SHIB’s circulating supply could potentially create a conducive environment for the token’s price surge in the mid-to-long term. This aligns with the broader goal of reshaping SHIB’s market dynamics and unlocking its potential for sustained growth.
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 <li><a href="https://cryptonewsland.com/why-did-influential-cardano-whale-delete-his-twitter/" rel="noopener noreferrer nofollow">Why Did Influential Cardano Whale Delete His Twitter?</a></li>
 <li><a href="https://cryptonewsland.com/78-of-bitcoins-circulating-supply-is-now-in-self-custody/" rel="noopener noreferrer nofollow">78% of Bitcoins Circulating Supply is Now in Self-Custody</a></li>
 <li><a href="https://cryptonewsland.com/shib-price-analysis-can-a-50-supply-reduction-propel-it-to-0-01/" rel="noopener noreferrer nofollow">SHIB Price Analysis: Can a 50% Supply Reduction Propel it to $0.01?</a></li>
 <li><a href="https://cryptonewsland.com/shiba-inu-takes-center-stage-with-2x-rewards-on-pondx-and-massive-supply-burn/" rel="noopener noreferrer nofollow">Shiba Inu Takes Center Stage with 2x Rewards on PondX and Massive Supply Burn!</a></li>
 <li><a href="https://cryptonewsland.com/long-term-bitcoin-hodlers-increase-holdings-by-440k-btc/" rel="noopener noreferrer nofollow">Long-Term Bitcoin Hodlers Increase Holdings by 440k BTC, Surpassing Circulating Supply Growth</a></li>
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The post <a href="https://cryptonewsland.com/shiba-inu-surge-whales-drive-price-supply-shrinks/" rel="noopener noreferrer nofollow">Shiba Inu Surge: Whales Drive Price, Supply Shrinks</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.

Shiba Inu Surge: Whales Drive Price, Supply Shrinks

Crypto News Land

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