Shiba Inu Sheds Over 5% in the Last 24 Hours as 200 Billion Tokens are Moved

Investors have sold over 200 billion Shiba Inu in less than 24 hours, data from WhaleStats have shown. 

According to the foremost data platform, two large Ethereum Whales sold a total of 200,678,888,054 Shiba Inu. The two transactions had a north monetary value of over $2.5 million. 

A breakdown by the platform indicated that the two transactions cost $1,500,648 and $1,170,388 respectively. 

The transaction, which represents a very significant trade development in the industry, comes on the heels of another major one that took place earlier. 

In the earlier transaction, the two whales bought 105,686,776,859 Shiba Inu. They paid  $755,581 and $651,110 for these canine tokens.

The recent transactions follow a trend of recent positive and massive transactions that pushed the digital coin to the top 10 list of most-purchased digital coins globally.

Shiba Inu Sheds Gain

Shiba Inu has lost over 5% of its value in the last 24 hours, dropping to $0.00001312.

The price decline came on the back of an almost 10% increase made on August 25.

According to available data on Coingecko, SHIB is the 12th-largest digital asset with a market cap of over $7 billion. In the last 24 hours, the meme coin has had over $800 million in trading volume.

In the last 24 hours, $1.5 million positions have been liquidated, according to Coinglass data.

Meanwhile, Shiba Inu’s token burn rate has continued apace, burning 110 million tokens on August 25 and over 180 million within the last 24 hours, per Shibburn.

Apart from that, Shibaswap, a decentralized exchange developed by the Shiba team has seen its user base grow to almost 150,000 users, according to Dune Analytics data.

Also, Shiba Inu holders spiked by 0.031% to 1.2 million addresses according to Etherscan data.

It should be added that the meme coin is trading at over 80% away from its all-time high.