Another large portion of Shiba Inu tokens has been taken out of circulation, while the coin shows 17% plunge in the past week
A recent report provided by tracking service @shibburn indicates that in the past 24 hours, 21.7 million SHIBs have been sent to multiple digital wallets with no way out. In addition to tracking SHIB burn transactions, this company also destroys tokens.
Besides, another SHIB burn platform has reported that they have incinerated 6.5 million coins as of late. In the meantime, the price of the second biggest canine cryptocurrency by market capitalization, Shiba Inu, has lost around 17%.
29 million SHIB gone for good
The @shibburn Twitter account shared that in the past 24 hours, a total of 21,731,142 SHIB tokens have been taken out of circulation. Another 1,882,892 SHIBs were burned in the past hour.
These SHIB were transferred to dead wallets, where they are now locked permanently without the chance to be spent or withdrawn to another address. It took 12 transactions to move those SHIB to the unspendable wallets.
The Shibburn platform aggregates data on SHIB burn transfers from the etherscan tracker and places it on their website for easy access.
Beyond that, another team of SHIB burn enthusiasts has reported destroying around 7.5 million SHIB.
152.4 million SHIBs burned last week
As U.Today reported last Sunday, a total of 152,439,298 Shiba Inu tokens have been moved to “inferno” wallets and are locked there permanently.
ETH whales buy 105.8 billion SHIB on the dip
According to data provided by TradingView, over the past week, the Shiba Inu price has plummeted by almost 17%, dropping from $0.00002738 to $0.00002323. By now, SHIB has gained 6.27% and is trading at $0.00002420 on the Binance exchange.
On February 25, two large Ethereum whales acquired a total of 105.8 billion Shiba Inu. These were whales ranked 1st and 12th by the WhaleStats data platform. These investors bought 50 billion and 55.8 billion worth of SHIB as the price fell.
