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In an eye-catching move, the world's leading cryptocurrency exchange, Binance, witnessed an extraordinary outflow of 584 billion Shiba Inu (SHIB) tokens in the past 24 hours, valued at an astounding $6.69 million.
This intriguing development comes amid the ongoing spectacular airdrop initiative by Binance, which has the crypto community buzzing with excitement.
According to data from on-chain explorer Etherscan, Shiba Inu token holders made sizable withdrawals, totaling 673.13 billion tokens. Simultaneously, a more modest influx of 581.7 billion SHIB tokens, equivalent to $5.71 million, flowed back into Binance during the same period.
This two-way movement of SHIB tokens once again underscores the dynamic activity surrounding the popular meme-inspired cryptocurrency.
Binance's $500,000 airdrop
The outflows occurred against the backdrop of Binance's much-anticipated and expansive airdrop campaign. As previously reported, the exchange announced a colossal airdrop targeting users of its Web3 wallet.
To participate in this crypto windfall, Shiba Inu users merely need to engage in a swap using the Binance Web3 Wallet. The airdrop, valued at $500,000, promises lucky recipients the chance to claim varying amounts of cryptocurrencies, with prizes ranging from one SHIB to one BTC.
As the epic airdrop continues to capture the attention of the crypto space, the question on everyone's mind is: Who will be the fortunate beneficiaries of this unprecedented giveaway, and how will it impact the broader landscape of SHIB?