A wealthy Shiba Inu investor named Marsbrothers.eth has amassed $2.99 million worth of SHIB as the meme coin price rebounded sharply from critical support on the daily chart.
According to Etherscan data, a wallet named “marsbrothers.eth” added a staggering 336,292,667.662 (336.29 billion) SHIB worth $2,993,004 ($2.99 million) from one of the Binance-related wallets called “Binance 15.”
SHIB Price
The whale trade in question came after the Shiba Inu rebounded from the critical support at $0.00000838 on the daily chart. The price of the Shiba Inu seems to be stabilizing above $0.00000838 as the bears have failed to push the Shib below the strong support since November 9, 2022. On Monday, December 12, the Shiba Inu retested the $0.000000838 level for the third time.
Burn Rate
Over 43.84 million Shiba Inu (SHIB) have been burned in the last 24 hours. Two important burns among these come from a Cryptocom-related wallet. According to Shibburn.com, these massive SHIB burns increased the meme coin burn rate by 138.08% compared to the last day.
You can follow the current price action here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.