Interest surrounding the Shiba Inu [SHIB] ecosystem has been experiencing a remarkable surge. As the development of Shibarium progresses, the community has been diligently preparing for the imminent launch by amassing SHIB tokens to a significant extent. An intriguing development has emerged as a new whale has garnered attention by acquiring trillions of tokens in anticipation of the Shibarium release.
New data from Etherscan.io has revealed that the whale has bought a substantial amount of 4.41 trillion SHIB tokens. This transaction is worth about $40.41 million. It took place in a single transaction. Furthermore, the magnitude of this SHIB accumulation has propelled the whale to the 27th spot among other large SHIB holders.
Data sourced from IntoTheBlock indicated a prominent surge in large transactions within the Shiba Inu network. Notably, there has been a substantial 340.96% escalation in the volume of large transactions over the course of the past week. This further translated to a total amount of $50.81 million in terms of the asset’s value.
Additionally, SHIB experienced a significant price surge during the weekend. The meme coin successfully underwent a reduction in value by eliminating a zero, reaching a peak of $0.00001023. However, subsequent to a corrective phase, the asset’s price also dropped to $0.00000918. Furthermore, this situation added momentum to long positions being liquidated. In the past 24 hours, long liquidations totaled $477.26K, while short liquidations remained modest at $130.83K.
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97 Million SHIB tokens out of circulation
Token burns have played quite an important role in the Shiba Inu ecosystem. The entire community has been collectively burning a significant amount of SHIB on a daily basis. Furthermore, it appears that a significant amount was removed from circulation over the weekend. Recent data from Shibburn indicates that on Aug. 6, a total of 97,646,939 SHIB tokens were actively sent to inactive wallets. This was sent through 17 separate transactions.
Also Read: Shiba Inu: You Only Need $10 To Become a SHIB Millionaire
