In a cryptic turn of events, Binance, the world’s foremost cryptocurrency exchange, has witnessed an extraordinary outflow of 584 billion Shiba Inu (SHIB) tokens within the last 24 hours, translating to a remarkable $6.69 million. This intriguing development unfolds against the backdrop of Binance’s ongoing spectacular airdrop initiative, setting the crypto community abuzz with anticipation.
Data from the on-chain explorer Etherscan reveals that Shiba Inu token holders executed substantial withdrawals, totaling a staggering 673.13 billion tokens. Simultaneously, a more restrained influx of 581.7 billion SHIB tokens, equivalent to $5.71 million, flowed back into Binance during the same timeframe. This two-way movement of SHIB tokens accentuates the dynamic activity surrounding the popular meme-inspired cryptocurrency.
The outflows coincide with Binance’s highly-anticipated and expansive airdrop campaign, a move that has intrigued the crypto world. The exchange unveiled a colossal airdrop targeting users of its Web3 wallet. Participating in this crypto windfall is as simple as engaging in a swap using the Binance Web3 Wallet for Shiba Inu users.
Valued at a staggering $500,000, Binance’s airdrop promises lucky recipients the opportunity to claim varying amounts of cryptocurrencies. Prizes range from one SHIB to one BTC, adding an element of unpredictability to this crypto extravaganza.
As the Shiba Inu tokens circulate in this unique dance between inflow and outflow, the crypto community remains on the edge of their seats, eagerly anticipating the outcomes of Binance’s airdrop spectacle.
Two days ago, Shiba Inu (SHIB) experienced a 13% surge, which allowed it to surpass Litecoin and Dai, claiming the 16th position in the cryptocurrency rankings. This growth was driven by significant upgrades in the Shiba Inu ecosystem, including the migration to Shibarium and an automated burn mechanism. SHIB has achieved an impressive milestone by processing over 40 million transactions, which highlights its increasing popularity and potential in the crypto world.
The Shiba Inu development team has recently announced a significant upgrade to their platform. The upgrade involves migrating the Shibarium testnet, also known as Puppynet, from the Goerli network to the more functional Sepolia network. This move is set to take place on December 15, and is expected to improve the overall performance and functionality of the platform. As a result, it could potentially attract more users and investors to the Shiba Inu platform..
