u.today
Data provided by the Shibburn tracking platform shows that within the past week, the $SHIB army’s relentless efforts have helped to dispose of over 400 million Shiba Inu meme coins.
According to the same data source, almost all of those hundred millions of $SHIB were destroyed in a single move by a mysterious meme cryptocurrency whale.
$SHIB army burns 411.8 million coins
Shibburn has revealed that in total a staggering 411,867,374 $SHIB were transferred to unspendable blockchain addresses. Still, despite the massive amount, the weekly burn rate was almost 50% down overall, according to the tweet published earlier today.
The list of burn transactions revealed that nearly all of those 411.8 million Shiba Inu were destroyed in a single transfer, which carried 372,663,448 $SHIB. This transaction was made a whale that had just awakened after a dormancy lasting more than a year.
As for the daily $SHIB burns, the last 24 hours have not been very productive. Merely 76,348 $SHIB were set on fire with the burn rate 97.77% down.
HOURLY $SHIB UPDATE$SHIB Price: $0.00002678 (1hr 1.25% ▲ | 24hr -1.23% ▼ )
— Shibburn (@shibburn) April 23, 2024
Market Cap: $15,791,847,044 (-0.97% ▼)
Total Supply: 589,273,991,111,768
TOKENS BURNT
Past 24Hrs: 76,348 (-97.77% ▼)
Past 7 Days: 411,867,374 (-48.14% ▼)
Still the community has not only been burning $SHIB. On Monday, a new whale acquired a massive 237,868,630,126 $SHIB.
Shytoshi Kusama raises $12 million for L3 network
As reported earlier, the $SHIB team has managed to raise $12 million from various investors to build a Layer-3 blockchain on top of the Shibarium network.
In today’s tweet, the enigmatic $SHIB lead Shytoshi Kusama shared that he had not just been travelling around various locations in different parts of the world this year – he had been travelling to pitch the $SHIB’s proposal to investors.
The new Layer-3 network will be focused on security and privacy. However, it will be possible to reveal transactions to auditors as a commitment to collaborate with regulators. The new network will be powered by the long-promised TREAT token which has not been launched yet.
Giving an interview in Dubai recently, Kusama emphasized that the $SHIB team is determined to finish what they have started and are not going to “go out and buy Lambos.” Apparently, this was a hint at the ill-famed FTX founder Sam Bankman-Fried who used millions of user funds for purchasing real estate and expensive cars for himself and FTX top management.