Shiba Inu Whales Move 600 Billion SHIB Tokens from Binance - Latest cryptocurrency news

Shiba Inu Whales Move 600 Billion SHIB Tokens from Binance

Shiba Inu experienced a significant whale accumulation in the midst of the general crypto market recovery, leading to a 20% increase in SHIB price within a month. In a particularly noteworthy whale transaction, according to on-chain data, a whale withdrew 600 billion Shiba Inu (SHIB) tokens from the Binance crypto exchange.

A whale wallet made an impressive move by withdrawing 600 billion SHIB tokens from Binance. This move was worth $5.7 million and was much larger than other whale transactions. Last week, this wallet took the first step towards becoming a whale by withdrawing 250 billion SHIB tokens from Binance in exchange for $2.3 million.

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However, SHIB burn transactions decreased by 90% in the past 24 hours. A total of 108,618 SHIB tokens were burned in four transactions. The Shiba Inu community had previously reduced the circulating supply by burning 1.3 billion SHIB tokens in November, demonstrating a strong stance.

Shiba Inu (SHIB) gave back some of its gains after the recent surge but continued to stay in the positive zone with a 0.33% increase. This could be attributed to whale accumulation and the rise in BTC price. Prior to the last-minute drop, SHIB price had increased by 10% in the past 24 hours and is currently trading at 0.00000905 dollars.

BONE price also increased by more than 11% during this period, but the 24-hour growth rate dropped to 0.08% at the time of writing. It is currently trading at 0.75 dollars, with the lowest and highest prices in the past 24 hours being 0.691 dollars and 0.781 dollars, respectively.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
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