Record Sale From Meme Coin Whales – Here’s Why The Sale

Record Sale From Meme Coin Whales - Here's Why The Sale
  • The price of the second-largest meme cryptocurrency may come under even greater downward pressure as the world’s second-largest meme whale has sold an alarming amount of $32.94 million, 3 trillion, tokens in a single transaction.

EthereumData shared by the WhaleStats wallet tracker, which focuses on a variety of chains including , Polygon, and BNB Chain, shows that the top 100 whales on ETH have disposed of millions of dollars worth of meme coins in recent days.

The Biggest SHIB whale is a remarkable amount in one trade as the value of the most popular dog-themed cryptocurrency dips below the critical support level of $0.00001173 on the 4-hours chart. Shiba Inu (SHIB) sold it.

Record Sale From Meme Coin Whales - Here's Why The Sale reported that the 2nd largest deep-pocketed SHIB investor exhibited a gruesome behavior to hold Shiba Inu tokens, and while it was done about 4 hours ago, in a large transaction, $32,940,000 ($32.94 million) was deposited into one of the Binance wallets labeled “Binance 14”. reported that it sold 3,000,000,000,000 (3 trillion) SHIBs worth

Shiba inu sale

Despite this tremendous sale, the giant whale has a massive investment in its wallet of 45,732,607,971,750 (45.73 trillion) SHIB worth $502,144,035 ($502.14 million).

Here’s why giant whales are selling Shiba Inu As we reported, the sale of the Shiba Inu token occurred after the Shiba Inu price dropped below the critical support level of $0.00001173 on the 4-hour chart. Since July 28, Shiba Inu price It is trading at a critical support level. The latest widespread panic selling in the global crypto market, Shiba Inu priceIt caused the coin to drop below $0.00001173 and hit the next level of support located at $0.00000991 on the 4-hours chart.

Shiba Inu whale

According to CoinMarketCap data, Shiba Inu price It fell more than 14 percent last week. At the time of writing, the Shiba Inu is trading at $0.00001057 with 24-hour trading volume of $233,364,287, down about 3 percent from last day.

Record increase in SHIB burn rate

As previously reported by KoinFinans, actively SHIB burning and shiba inu which is a tracking platform where the amount of SHIB tokens burned by the community can be tracked. shibburn shared by website data According to the report, the SHIB military has removed 132.77 million SHIBs from circulation in the last 24 hours by sending them to inferno/dead addresses. As a result of these burns, the Shiba Inu’s burn rate increased by 1503 percent.

Additionally, the Twitter account @shib_superstore, run by mobile phone game developer Travis Johnson, who regularly performs public SHIB burns, tweeted that they are preparing to burn at least $2,580 worth of Shiba Inu at the end of September. This amount means that 246,653,919 SHIB tokens will be removed from circulation.

Earlier this year, Johnson linked his online store to the Amazon affiliate program and uses commission payments from that store to buy and burn SHIB, helping to reduce the circulating supply of SHIB.

You can follow the current price action here.

Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.

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