Shiba Inu Observes Highest Rise In Burn Rate – Is This Normal?

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NewsBTC 2 mo ago

Shiba Inu Observes Highest Rise In Burn Rate – Is This Normal? - NewsBTC

Quick Summary:

Also, some SHIB whale activities indicate that top investors have lost faith in the meme coin as many whales keep moving chunks of Shiba Inu positions on exchanges. 🚨 🚨 3,312,307,240,798 #SHIB (38,257,148 USD) transferred from unknown wallet to unknown wallet — Whale Alert (@whale_alert) January 26, 2023 This could mean that short-term traders don’t believe the asset couldn’t rise above the resistance level, helping them earn profit. New SHIB Whales Emerge – What’s Next?

According to the blockchain whale tracker, Whale Alert, the wallet also received 1 billion PAW tokens a few minutes after sweeping the SHIB token.

Related Reading: Crypto-Friendly Bank Silvergate Suspends Dividend Payouts The new wallet became a whale address after receiving 3.3 billion SHIB worth about $38.9 million.