Whales Move 21 Billion SHIB to Top Exchange After 10% Weekly Price Surge

Data provided by Etherscan shows that over the past hour, whales have transferred more than two tens of billions of Shiba Inu. Almost all of this SHIB was sent to the largest crypto exchange, Binance, presumably to conduct sell-offs.

In total, 21 billion SHIB is the equivalent of $149,940 at the present exchange rate.

The staggering amount of meme coins was shoveled to Binance in two stashes – 10,891,899,999,999 SHIB and 2,000,000,000 SHIB. They landed in the Binance 14 address linked to the platform.

The third transaction, which carried 2,499,600,000 SHIB, was made from one anonymous wallet to another.

Earlier this week, whales transferred 28 billion Shiba Inu. A large part of that amount was sent to Binance and Coinbase wallets, likely to be sold as well.

Millions of SHIB getting burned

According to data from the Shibburn website, the burn rate of Shiba Inu has been in decline over the last 24 hours. Within that period, various members of the SHIB army managed to kick 11,996,642 SHIB out of circulation.

This was not much more than was burned by Monday morning, thus, the burn rate is only up 10.12%. The two largest burn transactions here carried 9,942,302 SHIB and 2,038,923 SHIB – the very last and very first ones on the list of burn transfers so far.

That was a substantial drop in the burn rate compared to June 19; on that day, per Shibburn, it soared to the 1,028% level, with 15,487,160 Shiba Inu tokens removed from the circulating supply.

SHIB soars 10% on weekly basis

Since Wednesday, June 15, last week, the price of the second most popular meme token, Shiba Inu, has demonstrated a rise of 10.40%, going up from $0.00000648 to the $0.00000715 level, where it is trading at the time of writing.