An anonymous ether ETH/USD Wallet acquired more than 3 trillion Shiba Inu SHIB/USD tokens in a single transaction.
What happened: Blockchain data from ether scan reveals that a mysterious wallet address acquired 3.37 trillion SHIB tokens worth $42 million on Tuesday.
At the time of writing, the tokens were worth $41.2 million.
Transaction data shows that the whale paid just Gwei 1.69 worth of gas fees for the high-value transaction.
Interestingly, prior to this week’s transfer, the mystery wallet in question contained no cryptocurrency tokens.
Meanwhile, the number of Shiba Inu burns has increased, with a particularly high number of tokens being sent to the burn wallet in August.
According to Shibburn, a portal that tracks the amount of SHIB tokens retired, 3.37 billion SHIB were burned in August.
3,785,744,343 $SHIB Tokens were burned in August with 528 transactions. #shib #shibarmy
— Shibburn (@shibburn) September 1, 2022
Although more than 410 trillion SHIBs have been burned so far, there are still 559 trillion SHIB tokens in circulation, meaning that the burn rate would need to be accelerated significantly for the token’s price to make any real change.
See also: IS SHIBA INU (SHIB) A GOOD INVESTMENT?
Price promotion: At the time of writing, SHIB was trading at $0.0001229, up 2.57% over the past 24 hours. Bitcoin BTC/USD was traded at $19,316 and ether ETH/USD was trading at $1,620, up 2% and 5% respectively over the same period.
