Shiba

X/Twitter

Dream

Shiba Inu

<figure>
 <figcaption>
  Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
<p lang="en-GB" xml:lang="en-GB">According to a recent post by Whale Alert blockchain sleuth, over the past 24 hours, its bots have tracked down a <a href="https://u.today/massive-546-billion-shiba-inu-shib-withdrawn-from-binance-as-whales-capitulate" rel="noopener noreferrer nofollow">massive chunk of Shiba Inu</a> meme coins worth almost $40 million in fiat.</p>
<h2 id="shiba-inu-price-prints-massive-decline">Shiba Inu price prints massive decline</h2>
<p lang="en-GB" xml:lang="en-GB">Details provided by the aforementioned data source have revealed who stands behind this enormous SHIB transaction. Meanwhile, the second-largest meme-inspired cryptocurrency, SHIB, continues to go down.</p>
<p lang="en-GB" xml:lang="en-GB">Over the last 24 hours, it has <a href="https://www.tradingview.com/symbols/SHIBUSDT/" rel="noopener noreferrer nofollow">lost approximately 7%</a> of its price, and since the weekend, SHIB has staged a decline of 13%, falling from $0.00000986 to the current $0.00000858 level.</p>
<blockquote>
 <p lang="en" dir="ltr">🚨 🚨 4,276,568,835,013 <a href="https://twitter.com/hashtag/SHIB?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#SHIB</a> (37,950,271 USD) transferred from unknown wallet to unknown wallet<a href="https://t.co/Bw1yGOBvGw" rel="noopener noreferrer nofollow">https://t.co/Bw1yGOBvGw</a></p>— Whale Alert (@whale_alert) <a href="https://twitter.com/whale_alert/status/1749465838883676345?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">January 22, 2024</a>
</blockquote>
<h2 id="trillions-of-shib-on-move">Trillions of SHIB on move</h2>
<p lang="en-GB" xml:lang="en-GB">In a recent X/Twitter post, Whale Alert spread the word about a total of 4,276,568,835,013 SHIB meme coins exchanging hands as this massive SHIB lump was moved between unknown blockchain addresses. The fiat equivalent of this is a mammoth-sized $37,950,271.</p>
<p lang="en-GB" xml:lang="en-GB">Details of the transfer provided by the above-mentioned cryptocurrency tracker show that the transaction was initiated by one of the internal wallets of the Netherlands-based Bitvavo exchange, and it was moved to a wallet linked to Bitvavo. The reason for this could be the cryptocurrency trading platform reshuffling its crypto balances.</p>
<p lang="en-GB" xml:lang="en-GB">Large SHIB movements have also been spotted recently as the founder of Tron, Justin Sun, purchased an amount close to <a href="https://u.today/tron-founder-withdraws-billions-of-shib-from-binance-details" rel="noopener noreferrer nofollow">80 billion SHIB</a> on Binance and withdrew it to a cold wallet along with a bunch of other cryptocurrencies, including LINK and FLOKI – a Shiba Inu rival meme coin.</p>
<h2 id="anonymous-whale-burns-100-million-shib">Anonymous whale burns 100 million SHIB</h2>
<p lang="en-GB" xml:lang="en-GB">A major member of the Shiba Inu team, its social media marketing lead, Lucie, has taken to the X/Twitter platform to reveal the name of the whale who burned a massive 100,000,000 SHIB over the past 24 hours.</p>
<p lang="en-GB" xml:lang="en-GB">According to Shibburn data, the overall amount of meme coins transferred to unspendable wallets within this period of time totals 146,261,497 SHIB. The 100-million chunk was the largest one, which was carried here in a single transfer. According to Lucie’s tweet, all of those millions of SHIB were burned by the @theshibdream Twitter account – the issuer of the Shib Dream NFT collection.</p>
<blockquote>
 <p lang="en" dir="ltr">Amazing! The <a href="https://twitter.com/theshibdream?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@theshibdream</a> NFT collection has just burned 100 million <a href="https://twitter.com/search?q=%24SHIB&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$SHIB</a>. Thank you! 🙏🏼 <a href="https://twitter.com/hashtag/Shibarium?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Shibarium</a> 🔥</p>— 𝐋𝐔𝐂𝐈𝐄 | Shibarium ⛓️ (@LucieSHIB) <a href="https://twitter.com/LucieSHIB/status/1749536538742943892?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">January 22, 2024</a>
</blockquote>
<p lang="en-GB" xml:lang="en-GB">Overall, those burns that have taken place since yesterday morning, have propelled the daily SHIB burn rate to a growth of 459.57%, according to the <a href="https://www.shibburn.com/" rel="noopener noreferrer nofollow">Shibburn website</a>.</p>

Trillions of SHIB Transferred, Who Stands Behind This?

Table of Contents

U_Today

Other articles published on Jan 23, 2024

Crucial Crypto Regulation Developments and Advertising Scrutiny

Stock Market Rises While Bitcoin Continues Downward Trend

Shiba Inu Price Prediction As SHIB Burn Rate Spikes, Will SHIB Hit $1 Soon?

Fidelity Exec Timmer Foresees Continued Bitcoin Churn

3 Cryptocurrencies that can Turn Your $5 into $250 in Just 3 Months

Bitcoin Market Turmoil: Miners Struggle as Institutional Investors Accumulate

Join our free newsletter for daily crypto updates!