Shiba Inu transferred $6 million in SHIB to WalletSimple
Date: 2023-08-25 Author: Karina Ziganova Categories: BLOCKCHAIN, IN WORLD
On Thursday, an unknown whale, Shiba Inu, transferred more than SHIB 708 billion from the Gemini crypto exchange to a wallet labeled WalletSimple.
The Shiba Inu ecosystem is having a hard time due to the failed launch of the second layer (L2) Shibarium blockchain. However, major investors seem to remain positive about Memcoin's price outlook.
WalletSimple holds 772.4 billion Shiba Inu
According to blockchain explorer Etherscan, on August 23, 0x941b received more than SHIB 708 billion from the Gemini wallet.
After that, he sent the tokens to the address 0x10A9, labeled as WalletSimple - this contract is used by organizations such as BitGo. At the time of writing, there are 772.4 billion SHIB in this wallet. The sender address last interacted with Shiba Inu 230 days ago.
Earlier this week, tracker Whale Alert shared data on the transfer of several trillion SHIB between anonymous addresses.
The community is burning more and more SHIB tokens
In the meantime, the community continues to send Shiba Inu tokens to burn addresses. According to Shibburn, the project has burned almost 120 million coins in the last 24 hours.
The purpose of the burn is to reduce the circulating supply, which could theoretically lead to a shortage of the asset and an increase in its price.
The SHIB price, meanwhile, continues to fall after an unsuccessful attempt to launch Shibarium. At the time of writing, the token is trading at $0.00000809, down about 2.35% over the last 24 hours.
