Shiba Inu, the second largest meme cryptocurrency, experienced a slight recovery as the price of Bitcoin (BTC) rose last week. However, it’s anticipated that the price of SHIB may increase further because the world’s largest cryptocurrency exchange, Binance, has decided to upgrade its listing. Meanwhile, large investors in the cryptocurrency market, known as “whales,” have been moving trillions of Shiba Inu Coins.
According to data from WhaleAlert, these crypto whales moved 3.48 trillion Shiba Inu Coins in a single transaction, worth $40.2 million, between two unknown wallets. It’s worth noting that this transaction occurred before Binance decided to move SHIB out of the innovation zone.
In a recent announcement, Binance said it will be moving several tokens, including Shiba Inu, out of the innovation zone from April 18, 2023. Frax Share (FXS), Trust Wallet Token (TWT), and 1 inch (1INCH) will also be affected by this decision. The Innovation Zone was introduced to make the cryptocurrency exchange a safer place, but these tokens have proven their projects meet high standards.
The ShibArmy expects a reasonable amount of price surge after this big announcement. However, Shiba Inu’s price only jumped by 2% in the last hour to erase the prior loss. At press time, SHIB is trading at an average price of $0.000011, and its 24-hour trading volume is up by 3% to stand at $327.7 million.
According to data, the Shiba Inu burn rate has registered an 86% drop in the last 24 hours. ShibArmy managed to transfer only 31 million SHIB to a dead wallet over the past day.
