4.6 Trillion SHIB Moved Between Two New Wallets as SHIB Begins to Recover wafact

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Yuri Molchan

Astounding amount of Shiba Inu has been moved to new wallet, while SHIB price is up 6.40%

Cryptocurrency tracker Whale Alert has spotted a staggering chunk of Shiba Inu shifted over the past 24 hours. The transaction carried several trillion SHIB worth nearly $40 million.

In the meantime, the second most popular canine cryptocurrency, Shiba Inu, began growing and has shown an impressive rise within the last 24 hours.

Whale shifts close to five trillion SHIB

According to the above-mentioned tracking platform, a total of 4,627,778,173,637 SHIB was shifted. The curious thing here is that the transfer was conducted between two wallets that were set up just recently. The sending wallet has just a few transactions performed within the last one and a half days and nothing before it.

The wallet that received the 4.6 trillion SHIB, seems to be brand new as this is the only transfer to it. Thus, one may say that a new Shiba Inu whale has been born.

Earlier this week, however, and last week too, several SHIB lumps of similar size were transferred to new wallets as well. One of them was withdrawn from the Bitvavo crypto exchange, however.

Nearly 100 million SHIB burned

According to data provided by the Shibburn wallet tracker, the SHIB burn rate has dropped by 90% over the span of the last 24 hours. Still, the Shiba Inu community succeeded in burning 102,973,224 SHIB.

This was achieved after 17 transfers of Shiba Inu coins to unspendable wallets, with the biggest transfers moving 18,507,183 SHIB; 15,735,793 SHIB; 13,999,721 SHIB and 11,888,836 SHIB.

On Aug. 22, the SHIB army managed to burn more than one billion Shiba Inu, with the burn rate pushed up by 1,000%, as reported by U.Today. That was almost half of what has so far been burned over the last week; 1,984,511,125 SHIB has been destroyed within seven days overall.

Meanwhile, since yesterday, SHIB has demonstrated a rise of 6.40% after declining by 27% since last Tuesday.

Tangem offers new batch of SHIB wallets

According to an earlier U.Today report, the Swiss producer of cold cryptocurrency wallets Tangem, which partnered with SHIB earlier this year, announced that it had produced a new batch of SHIB wallets that are ready to be sold.

This is the second batch; the first was delivered to Hong Kong last month and sold to the crypto community – 5,000 wallets enabling its owners to hold and trade more than 6,000 crypto, including SHIB. The wall is in the size of a bank card and requires a smartphone connected to it to transact.

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