The team behind Shiba Inu (SHIB) has been removing tokens from this cryptocurrency for some time. More than half a billion coins of this meme coin (cryptocurrency inspired by internet jokes) have been burned recently. Specifically, the SHIB army sent 600.7 million Shiba Inu (SHIB) into dead-end wallets in the last 24 hours. At the same time, a crypto whale acquired 271.3 billion Shiba Inu (SHIB).
The withdrawal of Shiba Inu (SHIB) tokens by the SHIB army.
The Shiba Inu ecosystem includes a SHIBSwap exchange of its own. It also includes a decentralized organization called the SHIB Army. The latter consists of software developers, fans and cryptocurrency investors. According to the Shibburn service’s website, the SHIB Army has sent 600,729,245 coins to various dead-end crypto addresses since yesterday morning.
It turns out that no one can spend or withdraw digital assets from such addresses. Thus, the SHIB tokens were burned and this was done in five transactions. Of these, the most notable single transfer was to send 595,232,837 SHIB.
This amount of cryptocurrency was transferred to a dead-end wallet from the address 0x95a9bd206ae52c4ba8eecfc93d18eacdd41c88cc a few hours ago. Note that prior to these transactions, a smaller amount (just over 37 million) of SHIB had been destroyed a short time ago.
Crypto whale buys 271.3 billion Shiba Inu
Crypto whales are individuals or organizations that own large amounts of cryptocurrencies. These different players have the power to manipulate the value of a cryptocurrency. That said, it just so happens that one crypto whale, who has remained anonymous, made an incredible transaction last Wednesday. In fact, she bought 271,370,420,624 SHIB, which was worth about $6,143,035 at the time of acquisition.
However, the value of the SHI amount then dropped by $400,000. This is due to the fact that the price of SHIB has dropped slightly in the meantime. Yesterday morning, it could be seen that the price of SHIB is in the red (i.e. falling) by looking at its chart. This cryptocurrency has already lost almost 2% of its value.
It must be said that as of March 17, the price of SHIB fell by 4.23%. It was trading at $0.000,021,85 just yesterday. The token had managed to reach a local peak of $0.000 022 81 the day before, before falling.
The SHIB army has completed the withdrawal of 600,729,245 Shiba Inu (SHIB) coins. These were sent to addresses from where no one can spend or withdraw them. Meanwhile, an anonymous crypto whale decided to buy 271,370,420,624 SHIB.
