After Elon Musk’s decision to continue the process of purchasing Twitter, approximately 1 billion DOGE transfers took place. Shiba Eternity can’t pump the price of the Shiba Inu (SHIB)? What’s next then?
Anonymous wallet sent 386 million DOGE
According to whale watching platform Whale Alert, a surprising amount of DOGE transfers took place on Blockchain today. These transfers were close to half a billion meme tokens. The whales slid an even larger amount of DOGE the day before. Thus, this means the transfer of almost a billion DOGE in two days.
As Whale Alert detected, there were a total of 386,082,773 DOGE transfers between the two anonymous wallets. This meme-coin amount is valued at $25,187,368. In the last two days, it’s the second transaction of this size that Whale Alert has noticed. Also, on October 5, 449,99998 DOGE transfers were made. This corresponds to approximately 836 million Dogecoins.
Also, on the same day, the same source detected two transmissions of one trillion SHIB each. The whales apparently transferred these two trillion SHIB to the Coinbase exchange for sale. This massive amount of meme coin transactions happened after Elon Musk decided to revert to a buyout deal with Twitter.
There were also some interesting comments on today’s DOGE transfer. cryptocoin.com As you follow, Elon Musk, a Dogecoin fan, has stated several times that if he buys Twitter, he will integrate DOGE payments into the platform. Some Twitter users jokingly shared these DOGEs, implying that Musk sent them.
🚨 386,082,773 #DOGE (25,187,368 USD) transferred from unknown wallet to unknown wallethttps://t.co/klCuL5pkCu
— Whale Alert (@whale_alert) October 6, 2022
3 things Musk is expected to integrate into Twitter
Yesterday, analyst Crypto Rand’s Twitter account tweeted 3 things Elon Musk expects the social media giant to add/change as soon as the deal is closed. These three things were the addition of the edit button, the elimination of fake accounts (bots) and the integration of purchases into cryptocurrencies. Earlier, Musk suggested that adding DOGE as a payment option to Twitter Blue subscriptions would be possible if he owns the platform.
According to a recent tweet by Musk, he plans to turn Twitter into an ‘everything app’ called ‘X’. Buying Twitter is an accelerator to build X, the everything app. In an earlier interview, the billionaire revealed that this will be a spam-free app where users can have various discussions and creators will get their share of the revenue.
He stated that if he bought it, he would transform Twitter into this application or develop it from scratch. This ‘everything app’ will be a kind of digital town square where important ideas will be discussed and freedom of speech will be promoted.
Elon Musk is planning to create an app called – "X, The Everything App". Buying Twitter will help speed up it's creation. @elonmusk pic.twitter.com/0sMifeEANv
— DogeDesigner (@cb_doge) October 5, 2022
Will the price of the Shiba Inu (SHIB) sink?
Shiba Inu Ecosystem’s Shiba Eternity game is now live worldwide. It can be downloaded on Android and iOS devices. Meanwhile, the Shiba Eternity announcement did not have any price impact for SHIB. According to reports, the Shiba Eternity download day scheduled for October 6 initially showed some signs of optimism. However, this later declined.
According to Google Play, the Shiba Inu game has been downloaded more than 10 thousand times. Meanwhile, this was not enough to move the price of the SHIB token either. However, the team introduced the Shiba Inu game as the most complex CCG ever. He mentioned that the game includes around 10,000 Shiboshi Heroes with 500 Trading Cards featuring 87 cards.
SHIB losing momentum?
Shiba Inu prices are down 1.26% in the last 24 hours. At press time, it is trading at an average of $0.00001127. SHIB’s trading volume for the last 24 hours fell 34% to $227.3 million. However, it still has a market cap of around $6.3 billion.
Meanwhile, the largest of the Ethereum whales has also downloaded Shiba Inu tokens from wallets. Also, it is still the largest token held by the top 100 ETH whales. The 100 largest ETH whales hold approximately $140 million worth of SHIB. This means that the whales own approximately $161.5 million worth of Shiba Inu.
However, the SHIB burn rate has dropped significantly over the past 24 hours. According to Shibburn, the burn rate decreased 92% in the past day. Holders sent approximately 2.96 million SHIB tokens to a dead wallet.
