Leading meme coin on the crypto market Shiba Inu has brought its community some good news today as it reached two major important levels, showing that its utility is expanding.
In the meantime, the Shiba Inu price has been fluctuating, showing a number of smallish red and green candles following each other.
SHIB returns as most traded token for top whales
The second biggest meme coin in terms of market capitalization value has finally regained the position of the most traded coin for the hundred largest whales on Ethereum.
At the moment, next to it sits UNI as the most widely held token and stETH as the biggest coin position in USD value. SHIB has not been the most traded crypto asset for a long time now, and the same goes for the status of the largest token holding valued in USD. At the time of this writing, these wallets contain cumulatively $44,666,060 worth of Shiba Inu. That is 5,539,064,777,34 – slightly over 2% of their comprised portfolio.
This summer and prior to that, Shiba Inu held these positions very often, but since then, a lot has changed for this coin, including the burn rate. The latter plunged drastically as the autumn began.
Overall, this year, around 80 billion meme coins have been removed from circulation by the SHIB army. Still, over the past 24 hours, the burn rate of Shiba Inu has dropped by more than 85%, as only as little as 1,024,814 meme coins were locked up in unspendable wallets.
