A large anonymous investor recently purchased a massive $444,000 worth of Shiba Inu, fueling speculation as SHIB prices rally.
According to transaction data, the unidentified whale account obtained 60 billion SHIB in a single transaction. This occurrence brought the wallet’s total holdings to over 73 billion SHIB, valued at $541,350.
Remarkably, this account made its very first Shiba Inu acquisition just one month ago. Yet in that short timeframe, it has amassed half a million dollars worth of meme-inspired cryptocurrency.
SHIB now constitutes nearly half of this investor’s portfolio, which totals $1.38 million in digital assets. The willingness to allocate such a large percentage to Shiba Inu signals bullish conviction.
SHIB burn rate plummets by -70%
Recent data from Shibburn indicates a notable decrease of -74% in the burn rate of Shiba Inu over the past 24 hours. The data reveals that during this period, only 28 million SHIBs were transferred to inactive wallets.
The burn rate of Shiba Inu has shown a consistent decline in recent weeks. However, the launch of Shibarium hasn’t proven to be very effective in ramping up the burn process.