June 9 blockchain tracker Whale Alert informl about a major transaction in which a single address transferred 4 trillion Shiba Inu worth about $31.7 million to Binance. The subsequent token sale caused a sharp drop in the price of SHIB by 18.3% to $0.00000648.
The unstaking coins sold by the whale increased Shiba Inu’s circulating supply by 1% to 578.9 trillion tokens, while reducing the number of SHIBs locked in smart contracts to 10.41 trillion.
Shiba Inu investors suffer losses
According to the analytical platform IntoTheBlockthe current drop in the price of Shiba Inu has led to the fact that the percentage of investors who are at a loss increased up to 89%. The number of “SHIB millionaires” meanwhile fell to 1,207.
However, the number of transactions on the Puppynet testnet continues to grow even during the massive sale. According to the data Puppyscanthe testnet processes an average of 500,000 transactions per day, and the number of wallets interacting with the blockchain exceeds 16.7 million.
The increased activity of network participants has led to the fact that over the past 24 hours the token burning rate has increased by more than 4000%, amounting to 227.44 million SHIB.
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2023-06-10 16:36:00
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