Whale Alert has once again unearthed a jaw-dropping SHIB transaction from Bitvavo, a cryptocurrency exchange.
Around 4.4 trillion SHIB tokens were recently transferred from Bitvavo to a wallet held by an anonymous user.
The total sum moved by this enigmatic whale amounted to a mind-boggling 4,454,530,677,374 SHIB tokens, with a jaw-dropping value of $34,314,122.
Notably, another sizable transaction involving over 3.4 trillion SHIB tokens from a Bitvavo wallet was detected earlier this week by Whale Alert.
However, this transaction was identified as an internal one, meaning it likely involved Bitvavo’s own operations.
Interestingly, SHIB on-chain flows have surged by an astonishing 1,666% within the week, as reported by data analytics aggregator IntoTheBlock.
This sudden spike is believed to be the result of heightened activity from cryptocurrency whales. These big players are not only transferring tokens between wallets but also accumulating SHIB coins while their price remains relatively low.
The lead developer of the Shiba Inu ecosystem, Shytoshi Kusama, recently took to social media to address several critical topics within the community.
One notable point of discussion was the enhancement of burns on Shibarium, the blockchain associated with SHIB.
Kusama emphasized that genuine SHIB token burns are contingent on the practical utilization of Shibarium. He indirectly criticized the community for expecting a miraculous burn of a substantial number of SHIB tokens without a solid foundation.
Furthermore, Kusama highlighted the discouragement faced from naysayers in the cryptocurrency space, which could deter potential investors, business partners, and everyday Shibarium users.