Only a small fraction of the SHIB meme coins have been eliminated by the Shiba Inu army since yesterday, and the price has started to rebound.
SHIB burn rate plunges
The combined efforts of the Shiba Inu community have only succeeded in removing 1,250,000 Shiba Inu off the market in the past 24 hours, according to statistics given by the Shibburn on-chain analytics platform. It needed two transactions, transporting 1,000,000 and 250,000 SHIB each, to get rid of that sum of SHIB.
The SHIB army’s burn operations over the last two days have not been particularly effective; on April 25, just about 2,500,000 SHIB were transferred to dead wallets; as a result, the burn rate is currently down 50% from yesterday.
Large whales keep accumulating SHIB
Shiba Inu meme coins were purchased in enormous quantities by many powerful whales last week. According to renowned wallet tracker WhaleStats, “BlueWhale0073” took possession of 194,114,774,578 SHIB in total, spending $2,069,263 to do so.
According to U.Today, the same address purchased 117,883,960,216 SHIB on the same day, totaling more than 311 billion Shiba Inu.
According to information provided by Etherscan, multiple whales also purchased almost 17 billion Shiba Inu on April 20.
SHIB price makes attempt to recover
The second-largest meme token by market size, SHIB, has managed to rise over the last day, although this gain was not significant. SHIB has gained only 3.14% overall since April 25 after producing a sizable green candle on an hourly chart, trading at $0.00001044.
Since April 19, the Shiba Inu has had a sharp decrease and has dropped by over 10% overall.
