Dogecoin Killer Shiba Inu Burn Rate Rallies 18% Alongside 4.25 Trillion Shuffle In Whale Activity

29 December 2023

in DOGE

Reading Time: 4 mins read

December 29, 2023 10:24 AM | 2 min read

“Finish 2023 Strong With 3 Hot Stock Ideas – Practically Free”

Ready for your shot at the next potential 32%, 39% or 45% gains in today’s market? You’re about to miss Stock Expert Gianni Di Poce’s 3 latest stock ideas… Ones that could shift your entire wealth-building journey. If you’re ready to end 2023 strong with 12 hot stock ideas every single month. ACT FAST.

Ethereum-based crypto Shiba Inu (CRYPTO: SHIB) reported significant whale movements while the community was also burning the token.

What Happened: Based on Whale Alert data, Shiba Inu witnessed a significant 4.25 trillion token shuffle between two unknown wallets. The total coins are worth $44.9 million.

Doge2014 Celebrates 10 Years of Dogecoin and the Meme Coin Craze – Up to 50% Presale Bonus for Early Birds

30 July 2024

Dogecoin Proponent Elon Musk Reveals Why He Doesn’t Really Like Crypto

30 July 2024

ENTER TO WIN $500 IN STOCK OR CRYPTO

Enter your email and you’ll also get Benzinga’s ultimate morning update AND a free $30 gift card and more!

In a separate development, on-chain data indicated an unknown new address received 417 billion tokens worth $4.4 million.

[crypto-donation-box]

These whale transactions highlighted significant interest from investors in the coin despite the weekly return standing at a positive 0.9%

Shibburn data also indicated that the Shiba crypto community burned a huge 13.14 million coins today (Friday) taking the burn rate higher by a significant 17.6% in the past 24 hours. This takes the total burn to 410.7 trillion tokens.

Price Action: In the past 24 hours, Shiba Inu saw a marginal downward movement of 1.1% while the past 30-day gains stand at 27.5%. Trading volume in the past 24 hours narrowed by 12.7%.

Why It Matters: On Dec. 26, Shiba Inu marketing lead Lucie went on X to highlight there was much more to come with P2E, Shibahub, Shib the Metaverse reveals, Sheboshis and Shibaswap 2. “We will position ourselves not only to persist but to rank among the top 5 blockchains,” she said.

“The Best Report Benzinga Has Ever Produced”

Massive returns are possible within this market! For a limited time, get access to the Benzinga Insider Report, usually $47/month, for just $0.99! Discover extremely undervalued stock picks before they skyrocket! Time is running out! Act fast and secure your future wealth at this unbelievable discount! Claim Your $0.99 Offer NOW!

Based on Shibariumscan data, daily transactions stood at 7.84 million (as of Dec. 28) compared to 7.64 million as of last week (Dec. 22). This takes the total transactions to 217.2 million.

Crypto Influencer SHIB CRACK took to X and said, “#Shibarium is getting ready to burn massive $SHIB during the next 3 days.”

SHIB-focused X user SHIB Bezos took to the X platform and said, “Shytoshi Kusama Announces Plan for Global SHIB Adoption, Hold Tight”

SHIB Bezos also said Shibarium will bring significant revenues to burn SHIB.

#ETH is $2,300 #SOL $100+#SHIB just $0.00001#Ethereum gas fees so expensive#Shibarium gas fees so competitive it will be adopted by thousands of companies, developers & exchanges
Will bring Billions of Dollar in revenues to burn $SHIB
Maybe nothing
Let that sink in#SHIB ???????? pic.twitter.com/wB3I3c0qwA

— SHIB Bezos (@BezosCrypto) December 29, 2023