Cryptocurrency Whale Sends $SHIB Tokens To Newly Created Wallet
A massive 136.8 billion $SHIB tokens were sent from one wallet to a newly created one, after the cryptocurrency project burned 9.35 billion tokens.
Four Whales Accumulate 2.39 Trillion Tokens
Data from on-chain analysis service Lookonchain shows that a total of four whales accumulated 2.39 trillion tokens from exchanges in the past month.
Price Drops, Burn Rate Surges
The value of $SHIB has been declining while its burn rate has skyrocketed, reaching a triple-digit increase on some days. Its team has also partnered with D3 Global to allow users to acquire .shib domains.
Burn Rate Could Lead to Price Increase
The Shiba Inu community is actively burning tokens, effectively reducing its available supply on the market. Analysts believe this could lead to price growth, especially as adoption rises.
Delisted from Uphold Canada
Shiba Inu was one of the cryptocurrencies recently delisted from Uphold Canada, along with other popular digital assets.
Hot Take
A partnership to allow the utility of the $SHIB token to grow shows the potential for increasing demand and a rising price, despite recent delistings.
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