A prominent Shiba Inu (SHIB) whale, identified as wallet address 0x9d9…Eb2d6, has once again increased their holdings.
This time, the major holder added SHIB tokens worth $2.54 million, bringing their total SHIB portfolio to a staggering $21.72 million.
Since June, the investor has strategically withdrawn 83.63 million SHIB tokens from Coinone at an average price of $0.00001842. With SHIB’s current trading price of $0.00002599, this calculated move has netted the holder an impressive $6.33 million in profits.
Meanwhile, the Shiba Inu burn rate has seen a dramatic surge, spiking by a remarkable 2,296%. A single transaction recently burned 1,003,266,585 SHIB tokens, reducing the circulating supply and potentially increasing the token’s value in the long run.
Adding to the excitement in the Shiba Inu community, the ecosystem’s marketing lead, Lucie, announced plans for a special Christmas giveaway. Dubbed the “Amazing Christmas Bone December” event, the development team has approved a generous budget to spread holiday cheer among SHIB enthusiasts.
These developments showcase the growing activity within the Shiba Inu ecosystem, fueled by strategic investments, aggressive token burns, and community-driven events. As SHIB continues to capture investor interest and expand its utility, the upcoming festive giveaway is poised to strengthen community engagement and bolster the token’s popularity further.
Shiba Inu’s ecosystem is not only showing resilience but also setting the stage for a dynamic close to the year, with loyal holders and an active community steering it toward sustained growth.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
Follow us on Twitter @themerklehash to stay updated with the latest Crypto, NFT, AI, Cybersecurity, and Metaverse news!
Image Source: avirozen/123RF // Image Effects by Colorcinch
The meme market has been buzzing lately. From Trump's coin launch to the bullish meme-fueled…
The attention drawn by meme coins in the rapidly evolving cryptocurrency world is for their…
The crypto market is a buzz with the recent efforts of large financial institutions, like…
The excitement in the cryptocurrency community seems to have reached a new level over recent…
The original meme-inspired cryptocurrency, Dogecoin ($DOGE), has shown considerable movement on the charts and has…
The cryptocurrency market is a-buzz with talk about the stablecoin's 65% increase in the total…