Prominent blockchain sleuth Whale Alert, which tracks down large cryptocurrency transfers, has spread the word about almost two trillion Shiba Inu meme coins leaving Robinhood for an unknown wallet.
Two staggering $SHIBchunks have been grabbed on the popular investment platform and withdrawn approximately eight hours ago. In the meantime, the $SHIBeyes a bullish breakout, according to a popular analyst. In the meantime, almost two billion $SHIBwere burned in April, mostly by mistake.
1.75 trillion $SHIBpurchased as coin eyes breakout
The aforementioned source shared that over the past eight hours, a mysterious wallet -4D935 has scooped up two enormous chunks containing 875,000,000,000 $SHIBeach. That is 1.75 trillion $SHIBmeme coins in total evaluated at $39.2 billion at the time when the transactions were made.
?? 875,000,000,000 #$SHIB(19,666,682 USD) transferred from #Robinhood to unknown wallethttps://t.co/hxSvwFxC0E
— Whale Alert (@whale_alert) May 1, 2024
In the meantime, popular cryptocurrency trader and analyst Ali Martinez tweeted on Wednesday that he has spotted the second largest meme coin $SHIBforming a bull flag on the daily trading chart.
He predicts that $SHIBis aiming to make a major bullish breakout to the $0.000072323 level and is placing a few buy orders the around $0.000018343 price mark.
Over the last 24 hours, $SHIBhas already attempted to make a surge of more than 9%, reaching $0.00002314. However, a decline that followed took it back to $0.000002182 – that’s 5.68% down.
1.6 billion $SHIBscorched in past month, here's nuance
According to a recent tweet published by the Shibburn explorer, in April, the Shiba Inu community did an impressive job of reducing the total circulating $SHIBsupply as it burned a whopping 1,695,717,536 $SHIB.
That achievement was made thanks to 204 transactions which locked all those meme coins in unspendable blockchain wallets. However, Shibburn clarified that all these burns were not quite usual ones. All of these tokens were lost forever due to investors sending them to the Contract Address by mistake.
These people have lost their investment, Shibburn emphasized in the tweet, urging the cryptocurrency community to be watchful and double-check the destination wallets before making any transactions.
?????? 1,695,717,536 $SHIBtokens have been burned in the month of April with 204 transactions. #$SHIB
— Shibburn (@shibburn) May 1, 2024
Attention: Most of the $SHIBthat were burnt this month were being sent to the Contract Address. This isn't due to any big news or anything as many reported... it's just folks… pic.twitter.com/QPk09fWit3
As for the fresh daily burns, within the last 24 hours, the $SHIBarmy has been unable to hold the $SHIBburn rate in the green (-11.80%) with 2,027,495 meme coins destroyed.
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