Another stunning amount of SHIB goes into “furnace” thanks to persistent efforts of SHIB community
As reported by burn tracking platform Shibburn, in the past 24 hours a staggering amount of Shiba Inu have been locked away in essential wallets by various members of the global SHIB army.
More than half a billion meme tokens have been shifted to dead-end wallets.
Meanwhile, SHIB-related whale buying activity has surged, with their supply of Shiba Inu up nearly 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.
The largest transactions among those made 93,303,458 SHIB 22 hours ago and 82,140,154 four hours ago. The burn rate, however, dropped by 26.99%.
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.
Whales add a large amount of SHIB
According to on-chain data service WhaleStats which focuses on tracking the top 100 wallets on Ethereum, Polygon and other chains, in the past 24 hours, Ethereum whales have added approximately $200 million worth of Shiba Inu to their assets.
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 the whale portfolio increased from 12.16% to 15.86%.
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.
