28 Billion SHIB Shifted to Top Exchanges After SHIB’s Recent Price Move

According to data shared by Etherscan recently, less than an hour ago, big transfers of Shiba Inu meme coins were spotted. A total of 27.6 billion Shiba Inu were shoveled overall in five transactions.

The largest lump of SHIB transferred here constituted 10 billion SHIB. Etherscan shows that around 17 billion Shiba Inu were moved by anonymous wallets to addresses linked to the largest crypto exchanges in the space, Binance and Coinbase.

28 billion SHIB bought and sold

A total of 6,039,968,812 SHIB was sent to a Coinbase 10 wallet. The amount of 9,988,799,999 SHIB was shoveled to Binance 14 wallet by an anonymous whale. These two chunks of Shiba Inu seem to have been moved to be sold by their owners.

However, a bigger amount of SHIB was bought, per the aforementioned data source. The amount of 1,140,690,612 SHIB was bought on Binance via Jump Trading company. A total of 6,039,968,812 SHIB was sent from Binance 14 wallet to an anonymous address.

The amount of 4,569,4490,905 Shiba Inu meme coins were moved from one unknown address to another.

Last week, popular crypto tracker Whale Alert reported two enormous transfers of Shiba Inu, in the course of which, each time, 3,811,233,843,288 SHIB were moved from an anonymous address to a brand new wallet.

SHIB price and burn rate jump

Over the past 24 hours, according to data shared by Shibburn recently, the burn rate of SHIB rose by over 1,000% with a total of 15,487,160 SHIB canine coins destroyed.

Gradually, the SHIB community keeps burning these meme tokens, pushing them to dead wallets and out of circulation. The ultimate goal is to reduce the circulating supply substantially in order to achieve a level of scarcity for SHIB, which would enable a massive price surge.

By now, according to the Shibburn site, the community has managed to remove 410,649,283,181,166 SHIB from the market and lock them in unspendable wallets. The overall amount of SHIB circulating out there now stands at 578,990,220,290,515 SHIB. Aside from that, 10,360,496,528,318 SHIB are currently locked in staking protocols.

Over the past 24 hours, Shiba Inu managed to rise slightly under 2%. However, over the weekend, the SHIB price increase was a lot bigger — more than 7%. By now, it has been annihilated.