Amount of Shiba Inu meme tokens burned on weekly basis keeps growing smaller
The sum of Shiba Inu burned during the past week has decreased significantly, and it was even lower on a daily basis during that period. Even today, the burn rate has increased significantly, according to the Shibburn Tracker.
In the meantime, over the weekend, whales have bought a hefty lump of SHIB.
155 million burns, rate increased by 395%
The Shibburn platform, which traces SHIB burn transactions and removes Mem tokens from dead-end wallets, shared via its Twitter handle that in the past seven days, the amount of burnt coins has increased significantly compared to the previous one. There has been a decline.
This time, Shibburn counted—thanks to the joint efforts of the SHIB army—a total of 108,611,459 meme coins sent to unspendable wallets. Another 44 million SHIB were removed from circulation in the past 24 hours, which makes it roughly 155 million in all by now.
On October 2, U.Today reported that over the past week, the SHIB community had managed to burn nearly half a billion meme coins.
Whale buys 100 billion Shiba Inu
On Saturday, U.Today reported that an anonymous wallet owner had purchased a whopping 100,000,000,000 Shiba Inu tokens, paying $1.1 million for them at the exchange rate on the day of the buy. The acquisition of the crypto was made on the KuCoin exchange.
Overall, to date, the 100 largest whales on Ethereum have a “stable amount” of SHIB (which they did not add or subtract over the past few weeks): 12,404,455,214,963. SHIB has this amount of $134,295,514 and comprises 4.98% of their portfolio.
At the time of this writing, the second most popular canine token is trading at $0.00001084, per figures provided by the CoinMarketCap platform.
