Shiba Inu, a potential Dogecoin competitor, has garnered attention in the cryptocurrency space due to a significant whale transaction of 4 trillion SHIB tokens.
Key Takeaways
- A notable whale transaction of 4.23 trillion SHIB tokens, valued at $45.58 million, occurred on December 22, as reported by Whale Alert.
- The unknown wallet, 0x77036b51…679acf5547, initiated the transfer to another wallet, 0x3ce6bed2…87d896c59f, coinciding with the LEASH listing announcement on CoinRabbit.
- Shytoshi Kusama, the lead developer of Shiba Inu, emphasized the LEASH listing on CoinRabbit through a social media post, contributing to community awareness.
- Despite a brief dip, the Shiba Inu price displayed a 0.32% increase in the last 24 hours, trading at $0.00001067. The weekly and monthly charts indicated gains of 8.95% and 30.88%, respectively.
Whale Moves 4 Trillion SHIB
Shiba Inu, a prominent meme coin in the cryptocurrency realm, attracted widespread attention following a substantial whale transaction of 4.23 trillion SHIB tokens, equivalent to $45.58 million. The transaction, reported by Whale Alert, unfolded on December 22, with the tokens moving between unidentified wallets—specifically from wallet address 0x77036b51…679acf5547 to 0x3ce6bed2…87d896c59f.
Shiba Inu News: Whale Moves 4 Tln SHIB, Shytoshi Kusama Spotlights LEASH Listing pic.twitter.com/hniyObHOH5
— Lê Hữu Thiện (@ThienLe_crytpo) December 23, 2023
This whale activity aligned with another significant development within the Shiba Inu ecosystem—the listing of the LEASH cryptocurrency on CoinRabbit. Shytoshi Kusama, the lead developer of Shiba Inu, spotlighted this event on social media, amplifying community awareness.
Shiba Inu Price Dynamics and Burn Rate Surge
Despite experiencing a momentary decline, Shiba Inu’s price demonstrated resilience, registering a marginal 0.32% increase within the past 24 hours, with the current trading value at $0.00001067. The weekly and monthly charts reflected positive trends, showcasing gains of 8.95% and 30.88%, respectively.
Notably, the recent surge in SHIB‘s price correlated with a substantial uptick in the token’s weekly burn rate, as reported by Shibburn. The burn rate exhibited a remarkable 13,991.99% increase, sparking heightened interest and curiosity within the Shiba Inu community.
To Conclude
Shiba Inu’s recent surge in attention is attributed to a significant whale transaction and the spotlight on the LEASH listing on CoinRabbit, as emphasized by Shytoshi Kusama.
The convergence of these events has generated speculative excitement in the broader cryptocurrency market, drawing global interest from traders and investors.
