Shiba Inu Coin News: Shiba Inu, the world’s second largest meme crypto price registered a positive upward trend since the beginning of 2023. Recent updates from the Shiba Inu Ecosystem have played a major role in this price recovery. However, the latest development from Binance, the largest crypto exchange can send the SHIB token price to the moon.
4 trillion Shiba Inu Coin staked?
WhaleAlert reported that Binance sent 4 trillion Shiba Inu (approx worth $36 million) to an unknown wallet in a single transaction.
As we dig in, Shibburn declared that Binance staked those 4 trillion SHIB tokens using ShibaSwap. This move has directly sent approx $36 million worth of Shiba Inu tokens temporarily out of circulation.
Shibburn further added that there was another transaction of un-staking 12.6 trillion Shiba Inu Coin (approx worth $116.2 million) from ShibaSwap by Binance. However, after this transaction, the largest crypto exchange re-staked 4 trillion Shiba Inu Coin.
Earlier, Shiba Archives announced that Binance have become the largest holder of Shiba Inu.
The post Binance Stakes 4 Trillion SHIB: Will Shiba Inu Price Move Upward? appeared first on CoinGape.
