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Tuesday, July 16, 2024

2.41 Billion SHIB Tokens Were Burned Past Week

The Whale, who is the owner of the wallet “BlueWhale0073”, is ranked number 12

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According to the Shibburn, a SHIB burn tracker, announced on Twitter that a massive amounts of Shiba Inu tokens have been burned, adding up to a total of around 2.41 billion SHIB tokens.

These 2.14 Billion tokens were send to a dead wallet, that means tokens are cannot be recover and completely removed from the circulation in the market. The burn was announced by the @shibburn Twitter account, and the burnings of SHIB tokens can be followed on the shibburn.com website.

The burning of SHIB tokens, was done through a series of transactions, among which the biggest transaction is 1,351,643,000 ( 1.35 billion ) tokens burned between April 8 and 9. Besides this, other burns amounted to 442 million and 258 million SHIB tokens. Also, a total of just more than 324 million have been burned in portions of nine transactions.

However, As per the WhaleStats, a whale bought a staggering amount of 775,473,150,952 SHIB, which is also the reason behind the increase in market value of SHIB. The transaction was worth $20,697,378.

The Whale, who is the owner of the wallet “BlueWhale0073”, is ranked number 12 by WhaleStats – a service that keeps track of the top 100 wallets on the Ethereum blockchain.

The SHIB prices also gone up more than 30% after the popular trading app Robinhood is added support for SHIB, along with Solana (SOL), Compound (COMP), and Polygon (MATIC). Among these four coins only SHIB skyrocketed.

All of these events coincide which leads to increase the market value second most popular dog based coin Shiba Inu. SHIB token is currently trading at $0.00002547, down 1.12% over the past 24 hours. The trading volume is also down by 43.73% to $336,492,529 in the last 24 hours.


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