An anonymous Ethereum ETH/USD portfolio has acquired more than 3 trillion shiba inus SHIB/USD tokens in a single transaction.
What happened: Blockchain data from Etherscan shows that a mysterious wallet address acquired 3.37 trillion SHIB tokens worth $42 million on Tuesday.
At the time of writing, the tokens are worth $41.2 million.
Transaction data shows that the whale only paid gwei $1.69 in gas fees for the high-value transaction.
Interestingly, the mysterious wallet in question did not contain any cryptocurrency tokens prior to this week’s transfer.
Meanwhile, the number of Shiba Inu burns has increased, with a particularly high number of tokens sent to the burn wallet in August.
According to Shibburn, a portal that tracks the number of SHIB tokens taken out of circulation, August saw 3.37 billion SHIBs burned.
— Shibburn (@shibburn) September 1, 2022
Although over 410 trillion SHIB have been burned so far, there are still 559 trillion SHIB tokens in circulation, which means that the burn rate would have to accelerate significantly for the price of the token to actually change. .
See also: IS THE SHIBA INU (SHIB) A GOOD INVESTMENT?
Price action: At the time of writing, SHIB was trading at $0.0001229, up 2.57% in the last 24 hours. Bitcoin BTC/USD was trading at $19,316 and Ethereum ETH/USD was trading at $1,620, up 2% and 5%, respectively, over the same period.