It’s the day of whale tales in the crypto markets as the rich list is burning and moving tokens on Thursday. A mysterious Shiba Inu whale who holds 1 billion tokens burned 20 million SHIB sending it permanently to the dead wallet. In the last 24 hours, a collective of 23.6 million SHIB tokens has been burned making the whale’s 20M burn the biggest of the day. The identity of the whale that burned 20 million SHIB tokens remains to be a mystery.
SHIB burn rate is up nearly 250% on Thursday, as two different whales burned 16 million and 14 million tokens, respectively. Whales, businesses, and retail investors are regularly burning SHIB removing millions of tokens out of circulation.
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However, despite the large burns, SHIB has a circulating supply of 549 trillion tokens making it impossible to burn them all. Therefore, the trillions of tokens are the sole reason that’s stunting Shiba Inu to reach the $0.01 milestone.
At press time, Shiba Inu was trading at $0.00000918 and is up 2.1% in the 24 hours day trade. It is down 89.3% from its all time high of $0.00008616, which it reached in October 2021.
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After Shiba Inu, XRP Whales Move 109 Million Tokens Worth $30M
Two different whales moved nearly 109 million XRP collectively worth $15 million on Thursday. In the first transaction, an unidentified whale moved 40 million XRP worth $15 million from an unknown wallet to a Bitstamp address.
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In the second transaction, another whale transferred 41 million XRP tokens worth $15.2 million to an address belonging to a Latin American exchange.
Whales are moving XRP tokens to different wallet addresses in record numbers in 2023. You can read more details about whales accumulating and transferring XRP tokens here.
Also Read: When Will XRP Reach Its All-Time High of $3.40?
At press time, XRP was trading at $0.37 and is up 2.2% in the 24 hours day trade. It is down 89.1% from its all time high of $3.40, which it reached in January 2018.