Ethereum Whale Buys 99 Billion Shiba Inu as Burn Rate Explodes 700%
A whale bought billions of Shiba Inu (SHIB) tokens on Friday. The move came amid the huge increase in the daily burn rate of SHIB tokens after the Shibarium Beta release dubbed PuppyNet.
WhaleStats reported in a March 31 tweet that an ETH whale named “BlueWhale0073” had purchased 99,297,904,247 SHIB worth $1.05 million. Whale is ranked 254 on WhaleStats ; With major holdings in stablecoins, Compound, AAVE, Chainlink, MATIC, and Sanin Inu.
Etherscan data reveals that the whale holds 65,829,862,154 SHIB tokens. It is the second largest holding after 10,159 ETH holdings with a value of over $18 million. BlueWhale0073 also bought 985,593 MATIC tokens, worth $1.08 million.
Whales continued to buy SHIB tokens in huge quantities after the Shibarium Beta was released this month. SHIB burn rate increased as each Shibarium transaction burns a SHIB; The developers claim to burn 100 trillion SHIB every year.
SHIB’s burn rate has increased by 719% in the past 24 hours, according to the SHIB portal. The community burned 8,209,953 SHIB tokens in 6 transactions. In the past seven days, 868 million SHIB tokens have been burned by the community.
The Shiba Inu price is trading sideways during this week, as the price is currently trading at $0.00001056. The 24-hour low and the high are at $0.0000104 and $0.0000106, respectively. Furthermore it ; Trading volume decreased by 21%, which indicates a waning interest among traders.
Meanwhile, BONE price is trading at $1.05; Down 3% over the past 24 hours. The 24-hour low and high are at $1.03 and $1.09, respectively.
