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Shiba Inu (SHIB) recently underwent a noteworthy price adjustment, shedding a zero it had acquired back in August. The token has experienced a 9.1% surge in the weekly charts and a notable 17.9% increase over the previous week, marking a positive turn for the project that faced challenges earlier in the year.


This recent upswing in price is attributed, in part, to three significant burns orchestrated by the SHIB team. Over the course of three days, approximately $1.2 million worth of tokens were transferred to the dead wallet, sourced from fees collected on the Shibarium network.


Coinciding with the price surge, there has been a substantial movement of tokens as whales strategically transfer assets into their wallets. According to data from IntoTheBlock, there has been a remarkable 375% increase in the inflow of tokens to large holders.


Conversely, the outflow from large wallets has seen a notable decrease of 60.4%, amounting to 835.9 billion SHIB tokens. This shift in wallet activity reflects the dynamic market conditions surrounding Shiba Inu as it gains momentum in the cryptocurrency landscape.


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