Half Billion SHIB Destroyed, But Burn Rate Drops 27%: Report


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Yuri Molchan

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Another stunning amount of SHIB goes into “furnace” thanks to persistent efforts of SHIB community

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As reported by burn tracking platform Shibburn, over the past 24 hours, a staggering sum of Shiba Inu has been locked up in unspendable wallets by various members of the global SHIB army.

More than half a billion meme tokens have been shifted to dead-end wallets.

In the meantime, whales’ purchasing activity related to SHIB has surged as their comprised Shiba Inu stash has increased by almost 25%.

525.2 million Shiba Inu destroyed

Shibburn tweeted that several soldiers in the Shib army have burned a total of 525,200,039 meme coins since yesterday morning.

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The largest single transactions among those carried 93,303,458 SHIB 22 hours ago and 82,140,154 four hours ago. The burn rate however, has dropped by 26.99%.

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Image via Shibburn

As reported by U.Today, a day before, a mind-blowing 22 billion SHIB had been burned over the past seven days, and 667 million canine tokens were locked in unspendable wallets permanently within 24 hours.

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Whales add big amount of SHIB

According to WhaleStats on-chain data service that is focused on tracking the 100 largest wallets on Ethereum, Polygon and other chains, over the past 24 hours, Ethereum whales have added roughly $200 million worth of Shiba Inu to their holdings.

On May 23, they held a total of $588,788,065 worth of SHIB. Now, as per the main page of the WhaleStats website, this figure has grown to the equivalent of $833,034,530 in Shiba Inu.

The percentage of SHIB in whales’ comprised portfolio has increased from 12.16% to 15.86%.

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Image via WhaleStats

At the time of writing, the 16th largest crypto, Shiba Inu, is sitting at $0.0000115 after a 6.65% drop over the past 24 hours. Currently, the meme coin is 86.93% below its historic peak of $0.00008, reached seven months ago in October.


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