4.3 Billion Dormant SHIB Go to Coinbase as Key Shiba Inu Metric Soars 2,814%

4.3 Billion Dormant SHIB Go to Coinbase as Key Shiba Inu Metric Soars 2,814%

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In total, the amount of SHIB transferred to Coinbase is valued at close to $100 million in fiat money.

Billions of SHIB transferred to Coinbase

The data source mentioned above reported that 10 wallets moved a staggering 4.29 trillion SHIB to the largest US crypto trading platform. The report specifies that the SHIB that went to Coinbase was purchased in two periods , three years apart.

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The first accumulation period was in September 2021 and the second in March of this year. Owners purchased these trillion coins at an average price of $0.00001309. Therefore, if the sale is indeed carried out at the current SHIB price, your profit will amount to approximately $41.22 million.

As Guru-Investingreported, a major SHIB transaction was made on Monday from the Robinhood exchange when 600 billion Shiba Inu were sent to an anonymous blockchain wallet. However, it turned out to be an insider transaction in the end, as Robinhood reorganized its SHIB holdings.

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SHIB burns soar to four-digit value

Tracking platform Shibburn spread the word today about an important SHIB metric, the burn rate, which skyrocketed by a whopping 2,814%, with 7,912,338 SHIB meme coins transferred to non-fungible blockchain wallets. This major burn occurred over the past 24 hours thanks to the efforts of the SHIB community.

For now, the burn rate has fell to 266.94% as not a single SHIB burning has occurred in the last nine hours.

At the time of writing, SHIB is changing hands at $0.00002175 after demonstrating a drop of over 7% in the last 24 hours.

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