Recent data from a major SHIB burner shows that in the past 24+ hours, close to 210 million tokens have been destroyed
Major SHIB engraver @shibburn tweeted that in approximately 24 hours, a total of 208.5 million Shiba Inu tokens were incinerated, i.e. removed from SHIB’s circulating supply.
208.5 million SHIB locked up
The process of “burning crypto” means moving digital tokens to dead-end wallets, where they will remain forever and nobody will be able to withdraw them or otherwise spend those funds.
This is done in order to reduce the circulating supply, which in theory can drive the price of the coin higher as the asset becomes scarce in the market.
Since Sunday morning, various burn initiatives within the SHIB Army have moved 208.53 million Shiba Inu tokens to “inferno” addresses. That is the equivalent of $5,544 at the present SHIB/USD exchange rate.
The biggest transfer of this burn change carried a whopping 161,397,653 SHIB.
86.8 trillion SHIB grabbed by third biggest whale
On Sunday, April 3, WhaleStats on-chain data tracker reported that the third biggest wallet on the Ethereum blockchain, titled “Tsunade,” made an acquisition of an astounding 86,811,666,383 Shiba Inu tokens.
This amount of tokens itself constituted $2,305,717 at the time of purchase. The wallet contains over $3.5 billion of various ETH-based tokens, with the largest share owned by American Born Doge (USDOGE, 23.07%) worth $1,915,414,660.
Prior to that, a whale called “Bombur” (after a dwarf in the iconic fantasy book “The Hobbit” by J.R.R. Tolkien, who went with Bilbo Baggins and Thorin the OakenShield to the Lonely Mountain) grabbed a smaller but still substantial amount of SHIB: 58,505,930,053 tokens.
This purchase by “Bombur” came after he purchased 175 billion Shiba Inus earlier in the week. At the time of writing, this 19th-ranked whale has $1,901,892,860 worth of various ETH tokens, excluding SHIB, which he apparently got rid of.
