Blockchain.info: Move $41M in Shiba Inu Coins
Thanks to an analysis of chain data at Blockchain.info this week, an insane amount of Shiba Inu coins were moved from one address to another, both unknown.
The Whale Alert platform, which tracks large cryptocurrency movements, noticed the movement of this huge amount of the meme coin.
🚨 3 368 267 529 701 #SHIB ($41,730,561) transferred from unknown wallet to unknown wallet
— Whale Alert (@whale_alert) 4 November 2022
Blockchain.info: The $41 million move of the Shiba Inu coin
Analysts say it is the biggest Shiba Inu move in history.
The sender address now appears to be empty, while the new unknown wallet where the tokens were moved shows Shiba Inu worth $41,730,561.
However, the burning rate of the Shiba Inu is dramatically reduced. The Shibburn platform explained that in less than 24 hours just 500 million Shiba Inus were burned or transferred to dead-end addresses, showing that the speed of the burning mechanism has definitely deteriorated.
Nevertheless, the cost of the Shiba Inu has increased by 5% in the last 24 hours. At the time of publication, SHIB is trading at an average price of $0.000010.
The market value is over 5.7 billion dollarsand the trading volume of $344.4 million has increased by 215% since the last moves.
Shiba Inu price estimate in 2023
Despite the entertainment that meme coins provide, they lose their credibility in the world of crypto investors. Investors are looking for more concreteness, projects that have real applications and can guarantee huge profits.
Shiba Inu Coin (SHIB) is a decentralized cryptocurrency with the purpose of promoting community interaction. The bear market period has not been very good for the cryptocurrency, which has reduced its value by quite a bit.
The United States is experiencing inflation at 40-year highs, and rising interest rates affect currencies such as SHIB.
To date, the price of the Shiba Inu meme coin is still in a sideways movement that fluctuates in an average price of 0.000010 and a capitalization that travels from $5 billion to $7 billion.
Analysts at Crypto Advertising predict that the Shiba Inu meme coin (SHIB) will experience a further decline of around 80% by early 2023 if the macroeconomic environment worsens.
Newbies and experienced investors are looking for promising new projects to invest in that can generate huge profits in this long crypto winter.
Shib Eternity is the most downloaded game in its category
A piece of news for SHIB, this time positive, is the success of Shib eternity the game launched on October 6. It is obviously an initiative that takes advantage of the huge amount of fans that have followed the dog crypt since 2020, probably with the aim of giving new life to the increasingly dry crypto, which is unable to offer exciting experiences for users.
This is a first because the Shiba Inu project, since its inception in 2020, has never offered practical use cases and benefits for investors.
This is a first. Shiba Inu has launched a mobile game that is reaping unexpected success because it has appeared as most downloaded card games on Android and iOS and 13th overall.
Shiba Eternity features the classic turn-based card game where challengers must bring their opponent’s score down to zero to win.
