Shiba Inu Determined to Recover Post FTX Crash

Shiba Inu Determined to Recover Post FTX Crash
  • From FTX alone 800 million SHIB was transferred with just three transactions.
  • The total amount of SHIB burned in the last 24 hrs reached nearly 12 billion.

Shiba Inu (SHIB), the meme token with a Japanese guard dog representation has become the talk of the town again. The dogecoin killer coin was one among the many other altcoins that suffered due to the fall of FTX.com. A few days back, whales shifted off nearly 1.5 trillion SHIB from different exchanges. 

From FTX alone 800 million SHIB was transferred with just three transactions containing huge lumps of Shiba Inu. As of Coinbase, 183 billion SHIB was sent to an unknown wallet. Additionally, 108 million SHIB was transferred from one anon wallet to another.

SHIB overtook Solana (SOL) in the market capitalization rank, but it was not long-lasting as SHIB drifted from its long-held $0.00001 value. Currently, the value of the token is  $0.000009751, and the trading volume in the past 24 hrs is $301 million, as per CMC data.

Optimistic Shiba Inu Community

Though the crypto market situation is not very favorable for the SHIB, the community still holds on. They are very confident about the bounce back from the FTX crash. Shiba Inu’s technical team is also expanding the origin.

SHIBBURN is prominent among the SHIB members, as it’s their go-to solution for maintaining the token’s balance. In the last 24 hrs, the total amount of SHIB burned reached nearly 12 billion.

The recent release of ShibaEternity has also backed a huge fan base, and the L2 Shibarium is all around the corner. The Shibarium layer two blockchain is under development for over a year, Shytoshi Kusama has also hinted at its launch by the start of this month.

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