Rate at which SHIB is getting burned has risen over 150%, along with small, brief increase in SHIB price
The leading tracker of burn transactions implemented on Shiba Inu Token @shibburn has revealed that the burn rate of SHIB has increased significantly over the past 24 hours.
SHIB burn rate spikes, price gains a little
According to data published on the website of Shibburn, the value of the SHIB burn rate has jumped by 153.18%, with a total of 3,362,763 meme coins worth $31 removed from circulation since yesterday morning.
An extraordinary amount of SHIB tokens have not been moved to dead-end wallets (where no one can access them to spend them) this week. Those were just below 10 million meme tokens. On December 7th, SHIB saw an 80% drop in the burn rate as only 1 million tokens were removed from circulation.
According to Shibburn, over the past week, it saw slightly over 126 million locked in unspendable wallets.
Data for the total weekly burn is usually released on Sundays.
In the meantime, the price of this prominent meme coin saw a modest gain earlier today as it managed to rise by 2.37%. By now, a roughly equal decline has been noticed on the SHIB/USD chart.
Here’s how much SHIB ETH whales hold
SHIB holders now amount to 1,258,552 according to the WhaleStats tracker of the largest wallets on Ethereum, BSC and several other chains.
As for the amount of SHIB owned by the largest hundred wallets on Ethereum, it remains $71,378,787 in USD equivalent. This stash of crypto is worth 7,713,405,151,552 Shiba Inu and constitutes 3.26% of these whales’ comprised crypto portfolio. SHIB sits here in fourth spot after stablecoins USDT and USDC, as well as after stETH.
