Another substantial chunk of Shiba Inu tokens removed as burn rate jumped up
As reported by burn tracker Shibburn, in the past 24 hours the joint efforts of various burn initiatives have helped move over 140 million Shiba Inu tokens to dead wallets, where these meme tokens will be locked from permanently.
140.2 million SHIB burned
As per a recently published Shibburn account tweet, a total of 140,223,703 meme coins have been burned, i.e., locked in unspendable wallets, in the past 24 hours.
The purpose of burning coins is to make SHIB rarer, thereby trying to drive up the price in the long run. So far, according to the SHIB burn tracker website, a total of 410,372,927,333,423 Shiba Inu have already been burned from the total circulating supply. Despite this, the price remains 88% below the all-time high of $0.00008845 per coin reached at the end of October last year.
Currently, there are 557,989,334,995,503 SHIB circulating out there. As a result of the aforementioned burn, the burn rate of Shiba Inu has surged 136.7%, according to the Shibburn website.
Largest Philippine Stock Exchange to List SHIB
According to several recent tweets posted by Coins.ph, the largest regulated crypto exchange in the Philippines, the platform intended to list Shiba Inu on July 13.
However, due to certain technical issues, the listing of the second largest meme coin by market cap has so far been postponed. The exchange promised to list Shiba Inu “very soon.”
Whales continue to buy SHIB en masse
As reported by U.Today earlier, Shiba Inu has once again taken the place of the largest crypto asset in USD equivalent held by the largest Ethereum whales.
Presently, these investors are holding $559,974,432 in SHIB, which is 22.35% of their comprised portfolio.
