SHIB army has burned another huge chunk of meme tokens over the past week, while the number of holders surges
The Shibburn platform that tracks SHIB burn transactions and frequently destroys meme coins itself has recorded more than 2.4 billion Shiba Inu locked away in unusable wallets since last Monday.
In the meantime, the Shiba Inu price has printed growth of over 14%.
Billions more SHIBs removed
Shibburn tweeted that over the past seven days, a total of 2,417,015,301 canine tokens have been moved to two dead-end wallets and out of circulating supply. Burning this large stash of Shiba Inu took 236 transactions.
This is the equivalent of $29,270 at the current exchange rate.
Last week, daily SHIB burns reported by Shibburn, as covered by U.Today, at times reached over half a billion tokens.
On Friday, U.Today reported that business project @shib_superstore announced that its online shop that sells mobile phone games, Shib-branded merchandise and goods had been picked for an affiliated program of Amazon and would begin to regularly use part of their profits from that to buy and burn Shiba Inu.
First, this project used to burn SHIB every 15 days of every month, but now they have started burning more frequently, every Sunday.
SHIB rises 15%
Since May 29, the second biggest meme coin by market cap, Shiba Inu, has demonstrated a rise by over 14%; the price surged from $0.00001081 to $0.00001236.
The entire crypto market started to rise, leading to small cap coins, like Shiba. Bitcoin is up 5.66%, changing hands at $30,630, and Ethereum is up 7%, trading in the $1,900 area.
Cardano’s ADA is up more than 12%, hitting $0.521. Solana and Polkadot are both up nearly 11%.
The number of SHIB holders is skyrocketing
Since early May, the number of addresses holding Shiba Inus has increased by 32,000, now standing at 1,172,506.
SHIB has recently been integrated by several large U.S. and global companies as a payment method, which is spreading the adoption of the “Dogecoin killer.” DOGE has often been adopted along with SHIB, Bitcoin, Ethereum, Litecoin and other top cryptos via BitPay crypto payment processor.
Recent partnerships that have increased SHIB adoption include XcelTrip and NOWPayments with Switchere, Jamestown, etc.
