A comparable transaction involving over 3.4 trillion SHIB was also identified this week.
A staggering 4.4 trillion SHIB was transferred from Bitvavo to a wallet owned by an unknown user.
Whale Alert has discovered yet another incredible transaction of SHIB from the Bitvavo cryptocurrency exchange. A staggering 4.4 trillion SHIB was transferred from Bitvavo to a wallet owned by an unknown user.
In total, the mysterious whale sent 4,454,530,677,374 SHIB, worth $34,314,122. A comparable transaction involving over 3.4 trillion SHIB was also identified this week, originating from a Bitvavo wallet, tracked by Whale Alert. Information provided by Whale Alert, however, indicated that it was an internal transaction.
Flows on the SHIB chain increased by a remarkable 1,666% this week, according to analytical data published by aggregator IntoTheBlock. This is likely due to increased activity from whales transferring tokens between wallets and purchasing SHIB coins while the price is still very cheap.
Increased burning rate
The lead developer of the Shiba Inu ecosystem, Shytoshi Kusama, released a social media post earlier this week in which he discussed several topics important to the group, including improving burns in Shibarium and promoting the value of blockchain.
Kusama is certain that there would be no genuine burning of SHIB tokens until Shibarium is put into practical use. He indirectly criticized the community for expecting a miraculous burn of a large number of SHIB tokens.
He then discussed how naysayers in the cryptocurrency world are discouraging potential investors, business partners, and retail users of Shibarium. The burning rate has increased significantly today. The SHIB community has burned 101,615,980 SHIB in the last 24 hours. The result was a 389.54% increase in the burn rate.
