- With over half a billion SHIBs locked away in dead wallets, investors continue to receive massive amounts of this meme token.
A tracking platform that actively burns SHIB and can track the amount of SHIB tokens burned by the Shiba Inu community. @shibburn announced a large burn that took place today. According to a recent post where the platform shared the data it collected from etherscan; More than half a billion in total in the last 24 hours Shiba Inu (SHIB) It was destroyed.
Meanwhile, the percentage of SHIB holdings in the wallet of the top 100 ETH whales fell below 11%. This amount was approximately $493.6 million at the time of writing.
509 million Shiba destroyed
According to data shared by the burn monitoring platform, a total of 508,825,823 transactions were completed by the community in just 15 transactions. Shiba Token removed from circulating supply and locked up in inferno wallets (dead wallets), the tokens thus “burned” are permanently removed from circulation, which should drive the price up in the near future.
The largest burn transaction here involved almost half of the total amount of SHIB destroyed – 295,559,819 tokens.
In the last 24 hours there have been a total of 508,825,823 $SHIB burnt tokens and 15 transactions. Visit https://t.co/t0eRMnyZel to see the overall total of #SHIB burned tokens, circulating supply, etc. #shibarmy
— Shibburn (@shibburn) May 28, 2022
Shib whales have become active in the past 24 hours
Shiba Inu whales have become more active over the past 24 hours, with a 122% increase in large transactions, according to data from IntoTheBlock. According to IntoTheBlock, large transactions are those where the amount transferred exceeds $100,000.
The high volume of transactions gives an idea of the total amount of transactions made by whales and institutional players on a given day. And according to this data; Big investors, known as whales, appear to be on the hunt for a decent price on the crypto asset as the Shiba Inu network shows significant signs of growth.
WhaleStats analysis of the top 100 Shiba Inu owners showed an 8.28% increase in active addresses as crypto whales interact with billions of Shiba Inu, leading to an increase in the number of large transactions. On top of that, WhaleStats has detected significant Shiba Inu purchases over the past 24 hours.
“BlueWhale0073” received 147 million Shiba tokens
As previously reported by KoinFinans, “BlueWhale0073”, which is ranked 312th according to the WhaleStats ranking, recently purchased 147,846,134,326 SHIBs worth $1,562,733.
🐳 ETH whale “BlueWhale0073” just bought 147,846,134,326 $shib ($1,562,733).
Ranked #312 on WhaleStats: https://t.co/RBupemZyZX
– WhaleStats – BabyWhale ($BBW) (@WhaleStats) May 27, 2022
Interestingly, despite the size of the amount paid to obtain the cryptocurrency, the transaction only cost $2.
SHIB is also back on the list as one of the top 10 tokens bought by the top 5,000 ETH whales, currently holding $627,497,979 worth of SHIB.
Bitrue launches new yield farming option for Shiba Inu
Bitrue has launched a new yield farming option for Shiba Inu that allows their holders to monetize their tokens. As noted in the blog post, there are three Shiba Inu pools to choose from, each with their own lock days, caps, and APYs, and users can pick the one that best suits their needs and start earning rewards.
— MILKSHAKE (@shibainuart) May 27, 2022
Last week, cryptocurrency exchange MEXC Global also announced that SHIB/USDC was listed on its platform, allowing users to trade Shiba Inu for Circle’s USDC stablecoin.
Trading with a 6.5% increase in the last 24 hours Shiba Token, trading at $0.000011 at the time of writing. Due to the overall volatility experienced in May, the Shiba Inu has fallen on hard times, down almost 46% for the month. But despite the price cuts, Shiba Inu has added nearly 32,000 investors to its community since early May, bringing the number of current owners to 1,171,385 according to data from WhaleStats.
You can check the price movements here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high risk investments. Each investment decision is the individual’s own responsibility. Finally, KoinFinans and the author of this content cannot be held responsible for personal investment decisions.