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HomeCrypto NewsMarketMajor Whale Unstakes 800B Shiba Inu from ShibaSwap

Major Whale Unstakes 800B Shiba Inu from ShibaSwap

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Major Shiba Inu Whale unstaked $8.23 Million Worth of Shiba Inu (SHIB).

Etherscan.io data reports that a Shiba Inu Whale ranked 54th in terms of holdings, has transferred a massive 800,215,912,624 (800.21B) SHIB, worth $8,230,620  ($8.23M) from ShibaSwap DEX to its wallet in a single transaction. The transaction occurred approximately 10 hours ago from press time.

Major Shiba Inu Whale Unstaked 80021B SHIB
Major Shiba Inu Whale Unstaked 80021B SHIB

Whale Alert, a famous blockchain tracking platform, also confirmed this transaction.

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With this transfer, the key Shiba Inu investor holdings increased to 1,084,415,912,624 (1.08T) SHIB, worth $11,288,769 ($11.28M).

The reason for this unstaking is unknown. The wallet is currently holding the unstaked tokens and not transferring them to any exchange for selling.

The SHIB token’s current supply stands at 589,610,792,299,634 (589.61T) SHIB, which includes 573,714,776,777,076 (573.71T) SHIB in circulation and 15,896,015,522,557 (15.89T) SHIB staked on the ShibaSwap DEX.

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The value of SHIB has dropped by more than -8% over the last day. The selling pressure intensified after Voyager, a bankrupt lending platform, sold off 270 billion SHIB tokens, valued at $3 million, to Coinbase yesterday.

Despite this recent selloff, Shiba Inu continues to gain mainstream adoption. Binance recently launched its crypto-focused prepaid card in Colombia, allowing residents to pay for their goods and services using SHIB and 11 other crypto assets supported by the card.

As of writing, Shiba Inu is trading at $0.00001038, with a 24-hour trading volume of $391,828,822 ($391.82M).

Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

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Zabi
Zabi
Zabi is crypto enthusiastic with more than 10 years of experience in managing Google News-approved Finance websites. Zabi has a strong background in finance with a thorough understanding of cryptos and a solid grip on the crypto and financial market industry. Along with his passion for crypto writing, Zabi manages his personal stock and finance-related Google News-approved websites.

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