The Shibburn tracking service, which focuses on SHIB burn transfers, tweeted earlier today that the burn rate of these meme coins had increased by a staggering 666%, a figure that some may associate with negativity.
Significant percentage rise in SHIB burn rate
Since the increase is 666%, one may assume that a “hell of SHIB” was probably destroyed. Actually, only 5,079,812 SHIB worth of Shiba Inu coins have been burnt or moved to non-spendable wallets.
3,075,500,963 SHIB were eliminated throughout the course of the last seven days by various SHIB army activists. This week’s previous 3,016,073,367 SHIB transaction to a dead-end wallet by an unidentified whale burnt almost the entire astonishing sum.
Size of SHIB holders’ holdings surges
The IntoTheBlock data aggregator revealed, as U.Today reported earlier this week, that significant SHIB holders have been accumulating enormous quantities of this well-known joke coin quickly.
This week, their holdings increased by more over 20 trillion SHIB in only one day. Similar jumps in this statistic were last seen in late March, and before that, in January when 2023 had just begun.
Here’s how fifth largest SHIB and DOGE whale emerged
On May 17, four astounding transactions totaling a combined 5 trillion SHIB were sent to an unnamed wallet. The owner won a total of 20 trillion SHIB as a result, making him the sixth largest SHIB whale in the cryptocurrency world.
But before that, he also got more than 3 billion Dogecoin, making him the fifth-largest DOGE holder. Several cryptocurrency tracking tools, like Whale Alert and Lookonchain, discovered these SHIB and Dogecoin transfers, which they quickly informed the crypto community about.
According to information from CoinMarketCap, SHIB is currently trading at $0.0000868 following a little decrease of 0.33% over the previous 24 hours.
