$SHIB burn rate has soared 480% as the coin hit this major milestone. shibburn
Shiba Inu has left behind the two most popular coins by market capitalization — SHIB's market cap now comprises $5,407,323,862 as it has taken 13th place on CoinMarketCap's scale of cryptocurrencies.
At the time of this writing, Shiba Inu is changing hands at $0.000009658 after falling 20.50% over the past week.WhaleStats wallet tracker focused on several blockchains shows that whales seem to be sort of disappointed in the SHIB token. As covered by U.Today on Wednesday, the overall load of SHIB held by the largest 100 whales on Ethereum is less than $100 million — $82,854,494 in USD equivalent.Both this week and last, however, anonymous whales transferred more than a trillion SHIB. This week, somebody withdrew roughly 1.2 trillion Shiba Inu from the FTX exchange right before it suspended withdrawals.
The exchange has been declared insolvent due to the financial troubles of Alameda trading firm linked to it. Binance, a major rival of FTX, first offered to bail it out. However, it later withdrew from the deal as it was unable to buy FTX together with FTX US. Now, Justin Sun, who recently bought a key stake in the Huobi exchange, is working with FTX on a solution to ensure the withdrawal of TRX, BTT and other tokens affiliated with TRON, as well as Huobi's token HT, by their retail holders.
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