A comparable transaction involving more than 3.4 trillion SHIB was also identified this week.
A whopping 4.4 trillion SHIB were moved from Bitvavo to a wallet owned by an unknown user.
Whale Alert has discovered yet another incredible transaction of SHIB from cryptocurrency exchange Bitvavo. A whopping 4.4 trillion SHIB were moved from Bitvavo to a wallet owned by an unknown user.
4,454,530,677,374 #SHIB (34,314,122 USD) transferred from #Bitvavo to unknown wallethttps://t.co/vySQ16pctv
— Whale Alert (@whale_alert) November 3, 2023
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.
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.
Burn Rate Surge
The Shiba Inu ecosystem’s lead developer, Shytoshi Kusama, 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 Shibarium and the promotion of the blockchain’s value.
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.
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.
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