Mysterious Whale Sparks SHIB Sell-Off - 421.6 Billion Tokens Dumped, Price Nears Zero

The mysterious whale sold off 421.6 billion SHIB worth, and the price was close to zeroAccording to a recent tweet from spotonchain analytics platform, a whale holding almost half a trillion Shiba Inu dogecoins dumped them at a huge loss in the past 24 hours.Meanwhile, Shiba Inu, the second-largest meme-inspired cryptocurrency, is approaching levels that could burn a fifth zero in its price. Mysterious whale deposits 421.6 billion SHIB to BinanceThe tweet from the above-mentioned on-chain data source stated that the whale dumped a total of 421.6 billion SHIB at an average price of $0.000009437. The sell-off occurred both on Binance and on a decentralized exchange (most likely Binance DEX in this case) – 311.6 billion Shiba Inu was sold on Binance, while 110 billion SHIB will be disposed of through DEX.In addition to the tweet, other data provided by spotonchain shows that this mysterious whale purchased tens of billions of SHIB on HTX and Binance in November 2021. Prior to this sell-off, this whale had held these SHIBs for almost 2.5 years.lessCopy codeWhale 0x30e allegedly sold 421.6 billion Shib ($3.98 million) in the past 6 hours for approximately $0.000009437, of which:• Deposit 3116B SHIB to #binance• Sell 110B SHIB on DEX​A true sale would now cost this whale $6.32 million (-61.4%) after 2.5 years of holding​— Spot On ChainAccording to the analysis platform, if it is sold, the whale will suffer a huge loss of $6.32 million. SHIB Price Nears Burn ZeroThe popular meme-themed cryptocurrency SHIB is up 3% today, with the price already very close to the $0.00001 level, which would result in a zero being burned into the price.On Tuesday, SHIB came even closer to breaching that threshold, reaching $0.0000993. Since then and until earlier today, Shiba Inu dogecoin price was down almost 6%.At the time of writing, Shiba Inu is trading at $0.00000962 on the Binance exchange. SHIB burn phase risesShibburn Transaction Tracker announces that SHIB burn rates have increased recently. Although the magnitude is not large - 55.12%, a total of 52,059,153 SHIB were transferred to non-spendable wallets and cannot be withdrawn. The largest burn occurred six hours ago, when 42,058,800 SHIB were sent to a dead-end blockchain address.The second largest burn occurred with 9,992,557 SHIBs.Last Friday, the daily growth rate of SHIB burn volume was as high as 8512%, and a total of 86.1 million meme coins were transferred to zero SHIB addresses. For more analysis, pay attention to the universe, and share free daily spot passwords and bull market strategy layouts at the top of the list!

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