{"id":554355,"date":"2023-10-06T10:00:22","date_gmt":"2023-10-06T10:00:22","guid":{"rendered":"https:\/\/wncen.com\/?p=554355"},"modified":"2023-10-06T09:42:11","modified_gmt":"2023-10-06T09:42:11","slug":"trillions-in-shiba-inu-on-the-move-what-lies-ahead-for-the-meme-coin","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/trillions-in-shiba-inu-on-the-move-what-lies-ahead-for-the-meme-coin\/","title":{"rendered":"Trillions In Shiba Inu On The Move: What Lies Ahead For The Meme Coin?"},"content":{"rendered":"

Large-scale transactions of Shiba Inu tokens have once again captured the attention of the cryptocurrency community. In a recent announcement by the crypto tracker Whale Alert, a substantial amount of SHIB was observed being transferred from the Amsterdam-based cryptocurrency exchange Bitvavo to an undisclosed blockchain address.\u00a0<\/span><\/p>\n

The staggering figure of 4,584,530,677,374 SHIB raises intriguing questions about the continued interest of prominent investors in this meme-based cryptocurrency.<\/span><\/p>\n

The transfer<\/span><\/a>, which took place in the early hours of Oct. 5, was meticulously recorded by the Ethereum (ETH) blockchain explorer Etherscan, adding credibility to the transaction’s authenticity.\u00a0<\/span><\/p>\n

Related Reading: Assessing Cardano\u2019s Struggles: Will Key Support Levels Halt The Decline Above $0.27?<\/a><\/div>\n

Shiba Inu Whale Transaction Details And Suspicious Timing<\/strong><\/h2>\n

This development comes just one week after the Shiba Inu development team issued a cautionary statement to its community, urging investors to exercise due diligence and remain cautious of suspicious entities claiming to be affiliated with the SHIB ecosystem.<\/span><\/p>\n

\n

\ud83d\udea8 \ud83d\udea8 4,584,530,677,374 #SHIB<\/a> (33,132,403 USD) transferred from #Bitvavo<\/a> to unknown wallethttps:\/\/t.co\/HrCbR3oavs<\/a><\/p>\n

\u2014 Whale Alert (@whale_alert) October 5, 2023<\/a><\/p><\/blockquote>\n

The team emphasized that the mere use of the name “Shibarium,” which denotes the ecosystem’s recently launched layer-2 scaling solution, does not automatically confer legitimacy. Instead, <\/span>the SHIB team emphasized<\/span><\/a> that all official partnerships and announcements would be exclusively disseminated through the ecosystem’s Discord channel or official blog.<\/span><\/p>\n

<\/p>\n

SHIB market cap currently at $4.2 billion. Chart: TradingView.com<\/a><\/pre>\n
Over the past 24 hours, the SHIB community has embarked on a noteworthy endeavor to reduce the circulating supply of SHIB tokens. A substantial quantity, totaling 50,430,344 SHIB, has been intentionally transferred to “dead wallets,” a strategy that effectively reduces the available supply and supports token value.\u00a0<\/span><\/p>\n
The largest single transaction in this recent burn spree amounted to 10,162,798 SHIB, as reported by the <\/span>Shibburn tracker<\/span><\/a>.<\/span><\/p>\n
\n
HOURLY SHIB UPDATE$SHIB<\/a> Price: $0.00000723 (1hr 0.16% \u25b2 | 24hr -0.47% \u25bc )
\nMarket Cap: $4,259,485,087 (-0.53% \u25bc)
\nTotal Supply: 589,339,392,895,097<\/p>\n
TOKENS BURNT
\nPast hour: 2,671,046 (2 transactions)
\nPast 24Hrs: 50,430,344 (61.06% \u25b2)
\nPast 7 Days: 426,377,516 (-41.81% \u25bc)<\/p>\n
\u2014 Shibburn (@shibburn) October 5, 2023<\/a><\/p><\/blockquote>\n
SHIB’s Resilience And Current Market Performance<\/strong><\/h2>\n
The ongoing efforts by Shiba Inu enthusiasts to burn SHIB tokens have been highly successful. To date, a remarkable 410 trillion-plus SHIB tokens have been deliberately removed from circulation, signaling a concerted commitment to creating scarcity in the market.<\/span><\/p>\n
Related Reading: Solana Price On Fire: October Red-Hot Prediction \u2013 $30 Within Reach?<\/a><\/div>\n
The resurgence in SHIB activity follows a period of rapid growth in the SHIB ecosystem. Despite recent market fluctuations, SHIB is currently valued at $0.00000720 <\/span>according to CoinGecko<\/span><\/a>, experiencing a slight 0.9% decline over the last 24 hours and a modest 2.2% dip over the past seven days.<\/span><\/p>\n
These developments in the world of Shiba Inu (SHIB) underscore the resilience of meme-based cryptocurrencies and the unwavering enthusiasm of its community, making it a cryptocurrency to watch closely in the coming weeks and months.<\/span><\/p>\n
Featured image from Channel Futures<\/span><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"
Large-scale transactions of Shiba Inu tokens have once again captured the attention of the cryptocurrency community. In a recent announcement by the crypto tracker Whale Alert, a substantial amount of SHIB was observed being transferred from the Amsterdam-based cryptocurrency exchange Bitvavo to an undisclosed blockchain address.\u00a0 The staggering figure of 4,584,530,677,374 SHIB raises intriguing questions about the continued interest of prominent investors in this meme-based cryptocurrency. The transfer, which took place in the early hours of Oct. 5, was meticulously recorded by the Ethereum (ETH) blockchain explorer Etherscan, adding credibility to the transaction’s authenticity.\u00a0 Related Reading: Assessing Cardano\u2019s Struggles: Will Key Support Levels Halt The Decline Above $0.27? Shiba Inu Whale Transaction Details And Suspicious Timing This development comes just one week after the Shiba Inu development team issued a cautionary statement to its community, urging investors to exercise due diligence and remain cautious of suspicious entities claiming to be affiliated with the SHIB ecosystem. \ud83d\udea8 \ud83d\udea8 4,584,530,677,374 #SHIB (33,132,403 USD) transferred from #Bitvavo to unknown wallethttps:\/\/t.co\/HrCbR3oavs \u2014 Whale Alert (@whale_alert) October 5, 2023 The team emphasized that the mere use of the name “Shibarium,” which denotes the ecosystem’s recently launched layer-2 scaling solution, does not automatically confer legitimacy. Instead, the SHIB team emphasized that all official partnerships and announcements would be exclusively disseminated through the ecosystem’s Discord channel or official blog. SHIB market cap currently at $4.2 billion. Chart: TradingView.com Over the past 24 hours, the SHIB community has embarked on a noteworthy endeavor to reduce the circulating supply of SHIB tokens. A substantial quantity, totaling 50,430,344 SHIB, has been intentionally transferred to “dead wallets,” a strategy that effectively reduces the available supply and supports token value.\u00a0 The largest single transaction in this recent burn spree amounted to 10,162,798 SHIB, as reported by the Shibburn tracker. HOURLY SHIB UPDATE$SHIB Price: $0.00000723 (1hr 0.16% \u25b2 | 24hr -0.47% \u25bc ) Market Cap: $4,259,485,087 (-0.53% \u25bc) Total Supply: 589,339,392,895,097 TOKENS BURNT Past hour: 2,671,046 (2 transactions) Past 24Hrs: 50,430,344 (61.06% \u25b2) Past 7 Days: 426,377,516 (-41.81% \u25bc) \u2014 Shibburn (@shibburn) October 5, 2023 SHIB’s Resilience And Current Market Performance The ongoing efforts by Shiba Inu enthusiasts to burn SHIB tokens have been highly successful. To date, a remarkable 410 trillion-plus SHIB tokens have been deliberately removed from circulation, signaling a concerted commitment to creating scarcity in the market. Related Reading: Solana Price On Fire: October Red-Hot Prediction \u2013 $30 Within Reach? The resurgence in SHIB activity follows a period of rapid growth in the SHIB ecosystem. Despite recent market fluctuations, SHIB is currently valued at $0.00000720 according to CoinGecko, experiencing a slight 0.9% decline over the last 24 hours and a modest 2.2% dip over the past seven days. These developments in the world of Shiba Inu (SHIB) underscore the resilience of meme-based cryptocurrencies and the unwavering enthusiasm of its community, making it a cryptocurrency to watch closely in the coming weeks and months. Featured image from Channel Futures<\/p>\n","protected":false},"author":557,"featured_media":554359,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[1144,8686,83767,4735,84473,83667],"class_list":["post-554355","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-btcusd","tag-ethusd","tag-meme-coins","tag-price-action","tag-shib-price","tag-shiba-inu"],"acf":[],"yoast_head":"\nTrillions In Shiba Inu On The Move: What Lies Ahead<\/title>\n<meta name=\"description\" content=\"Large-scale transactions of Shiba Inu tokens have once again captured the attention of the cryptocurrency community. 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But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. 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