Large amounts of Shiba Inu keep getting burned via Amazon and without it; burn rate has soared 293.75%
The @shib_superstore online shop, which sells games for mobile phones and SHIB-branded merchandise, regularly burns Shiba Inu, including through an affiliate program with Amazon.
In the meantime, overall, more than 125 million SHIB have been removed from circulation in the past 24 hours, according to a recent report.
22.8 million SHIB will be burned through Amazon
@shib_superstore is the Twitter page of smartphone game developer Travis Johnson, whose store sells games, SHIB-branded goods and merch. On a weekly basis, he buys SHIB with a portion of his profits and sends these meme coins to the dead-wallet.
In a recent tweet, Johnson spread the word that by now he has earned nearly $300 via the Amazon affiliate program in August in order to buy SHIB with this money and burn it later on. Three hundred dollars equals 22,883,295 Shiba Inu.
In addition, one of his games on Saturday brought in $1,200 to buy and burn SHIB – the equivalent of 93,312,597 meme tokens.
582 million SHIB gone last week, burn rate spikes 293.75%
According to a recent tweet posted by Shibburn crypto tracker, over the past seven days, a record amount of 582,646,458 SHIB tokens was moved to “inferno” addresses and was locked there permanently.
It takes the SHIB army 106 transfers to burn such a huge amount of cryptocurrency.
According to the same source, over the last 24 hours, the community of SHIB fans managed to burn a total of 125,342,401 Shiba Inu. The SHIB burn rate has increased by a whopping 293.75%.
Despite repeated burnings, the number of SHIB tokens remains 558,247,112,903,824, with 31,375,194,854,971 SHIBs involved in various DeFi projects.
Whales hold $161 million in SHIB after selling $500 worth of it
As covered by U.Today earlier, more than a month ago, during the first week of July, the top 2,000 Ethereum whales owned as much as $660 million worth of the second largest meme token on the cryptocurrency market.
Now, the amount of SHIB held by these whales has dropped to $161.3 million in SHIB, meaning that the whale has sold almost half a billion Shiba Inu while its price was fluctuating.
At the time of this writing, the meme token is trading at $0.00001291. The coin remains 85.40% below the all-time high it managed to hit in October 2021: $0.00008845
