Mysterious Whale Sells 421.6 Billion SHIB Tokens

Mystery whale sells 421.6 billion SHIB tokens for near zero, price close to burning last zeroAccording to a recent tweet from the @spotonchain analytics platform, over the past 20 hours, a whale holding nearly 500 billion Dogecoins sold the tokens at a huge loss.Meanwhile, Dogecoin, the second-largest Dogecoin-inspired cryptocurrency, is approaching a level that could eliminate the fifth zero from its price.Mysterious whale deposits 421.6 billion SHIB into Binance exchangeThe tweet from the above-mentioned on-chain data source stated that the whale sold a total of 421.6 billion SHIB tokens at an average price of $0.000009437. The sale took place on the Binance exchange and DEX (in this case, most likely Binance DEX) – 311.6 billion Dogecoin was sold on the Binance exchange and 110 billion SHIB was sold through the DEX.Additional data provided by @spotonchain shows that this mysterious whale purchased hundreds of billions of these SHIB tokens on HTX and Binance in November 2021. Prior to this sale, the whale had been holding these tokens for almost 2.5 years.According to the analysis platform, if it is really sold, the whale will suffer a huge loss of US$6.32 million.SHIB price is close to removing zeroThe popular dog-themed cryptocurrency Dogecoin is up 3% today and is very close to the $0.00001 level, which would cause one zero to be eliminated from the price.On Tuesday, Dogecoin came even closer to breaching this threshold, reaching $0.0000993. Since then, Dogecoin was down almost 6% until earlier today.At the time of writing, Dogecoin is trading at $0.00000962 on the Binance exchange.SHIB destruction phase risesThe Shibburn transaction tracker announced that the SHIB burn rate has increased recently. Although the magnitude is not large – a total of 52,059,153 SHIB were transferred to non-withdrawable wallet addresses. The largest burn occurred six hours ago, when 42,058,800 SHIB were sent to a dead-end blockchain address. The second largest number of SHIBs destroyed was 9,992,557 SHIBs.Last Friday, the daily increase in SHIB destruction reached a staggering 8512%, with 86.1 million Dogecoins transferred to zero SHIB addresses.

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