Anonymous whales have moved more than 1 trillion Shiba Inu tokens to a Coinbase wallet, as per data shared by a community member with the Twitter handle @shibaplay_
Drilling deeper, a total of 1,060,594,914,048 were transferred from an anonymous address to a Coinbase wallet with the likely intention of selling this enormous quantity of SHIB.
This portion of cryptocurrency was worth $10,415,042 at the time of the transfer using the then-current SHIB/USD exchange rate. Curiously, just five minutes after this portion of meme cryptocurrency arrived from another anonymous wallet, according to Etherscan, this trillion SHIB was transmitted to a “Coinbase 10” address
At the time of this writing, the wallet that sent the SHIB to Coinbase contains zero meme coins.
50 transactions and 126,452,790 SHIB tokens were burned over the past seven days. This amount is less than the previous week’s total of 223,264,370 SHIB tokens burned.
This year, the Shiba Inu’ ‘s team announced its merger with Italian burger joint Welly in February. To allow the community to participate in decision-making, the DAO concept was presented.
According to a blog post, Welly’s DAO model was put to the test when its Decentralized Organizational Group (D.O.G.) was recently launched in late November.
Shiba Inu Unveil Welly DAO Model
Members of the neighborhood were tasked with selecting the best interior design from a sample of three proposals provided by the partner design company, Masquespacio, for the interior of future franchise locations.
The D.O.G. model will be used in decisions that are presented to the Welly community in the future. This will require choices about everything from menu items and packaging to franchise sites and store décor.
Additionally, a second DAO will be used by the Shiba Inu community to select how to use cash given to SHIB holders, which will represent 15% of future net store revenues.
As reported by TronWeekly, the total SHIB tokens destroyed in November surged by more than $500 million as compared to each individual weekly burn. Comparing that to the early fall and summer findings, it is however quite low.
The SHIB burn rate showed tremendous volatility during that month and occasionally increased by above 4,000 and 5,000 percent.