Shiba Inu Coin News: Shiba Inu, the second largest meme crypto, recorded a slight recovery as Bitcoin (BTC) price spiked last week. However, SHIB price is expected to see an increase if Binance, the world’s largest crypto exchange, decides to upgrade its listing. Meanwhile, crypto whales have been caught moving trillions of Shiba Inu coins.

Also Read: Binance Removes Shiba Inu, 1INCH, FXS, TWT From Innovation Zone

3.5 trillion SHIB on the way

According to data received by WhaleAlert, crypto whales have moved 3.48 trillion Shiba Inu coins in a single transaction. $40.2 million in SHIB was moved between two unknown purses. It is important to note that this transaction was recorded before Binance decided to take SHIB out of the innovation zone.

Binance has decided in a recent announcement to remove several tokens, including Shiba Inu, from the innovation zone from April 18, 2023. Frax Share (FXS), Trust Wallet Token (TWT) and 1 inch (1INCH) will be part of this demotion.

It added that the Innovation Zone has been introduced to make crypto exchange more secure. However, these tokens have proven that their projects meet high standards.

Also Read: Elon Musk reveals US government has access to Twitter DMs

Shiba Inu burn rate drops

ShibArmy expects a reasonable price increase after this big announcement. However, the price of Shiba Inu is up 2% in the past hour to make up for the previous loss. SHIB is trading at an average price of $0.000011 at the time of going to press. 24-hour trading volume is up 3% to $327.7 million.

According to the data, the Shiba Inu Burn rate is down 86% in the past 24 hours. ShibArmy managed to transfer only 31 million SHIB to a dead wallet in the last day.

Ashish believes in decentralization and has a keen interest in the development of Blockchain technology, the cryptocurrency ecosystem and NFTs. He aims to create awareness around the growing crypto industry through his writings and analysis. When he is not writing, he is playing video games, watching a thriller or exercising outside. Reach me [email protected]

The content presented may contain the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or publication is not responsible for your personal financial loss.

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