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Shiba Inu Burn Rate Surges 155% with Over 208 Million SHIB Sent to Dead Wallet

Altcoins

u.today 05 July 2022 19:45, UTC
  
Reading time: ~2 m

The burn rate of Shiba Inu has considerably increased over the last 24 hours. A portion—that is 112,647,175 SHIB tokens—were destroyed and more than 15 transactions were reported by the Shibburn Twitter account a little over nine hours ago. This number is currently rising.

In the past 24 hours, there have been a total of 112,647,175 $SHIB tokens burned and 15 transactions. Visit https://t.co/t0eRMnyZel to view the overall total of #SHIB tokens burned, circulating supply, and more. #shibarmy

— Shibburn (@shibburn) July 5, 2022

According to the Shibburn website, 208 million Shib have been burned as of the time of publication, with a 155% rise in the Shib burn rate.

Shibburn

According to the Shib burn Twitter account, an astounding 86,405,616 SHIB were just sent to dead wallets in a single transaction in the last hour.

Shiba Inu's large transactions jump 153%

Shiba Inu whales, or large holders, joined in the action as large transactions increased by 153% in the past day, according to statistics from IntoTheBlock. A transaction is often more than $100,000, and large transaction spikes are sometimes associated with increased activity from whales who are either buying or selling.

The analysis of the top 100 Shiba Inu holders by WhaleStats also revealed a 6.8% increase in the average Shiba Inu balance as a result of crypto whales dealing with billions of Shiba Inu and a rise in large transactions. In the past day, the average Shib value has also increased by 9.4%.

JUST IN: $SHIB @Shibtoken is back on top 10 purchased tokens among 1000 biggest #ETH whales in the last 24hrs 🐳

Peep the top 100 whales here: https://t.co/jFn1zIOq03

(and hodl $BBW to see data for the top 1000!)#SHIB #whalestats #babywhale #BBW pic.twitter.com/2o5A0yhHy4

— WhaleStats - BabyWhale ($BBW) (@WhaleStats) July 5, 2022

According to WhaleStats, SHIB has returned among the top 10 purchased tokens among the 1,000 biggest ETH whales, who now "hodl" $592,950,692 worth of SHIB.

Medium is just about done but out of respect for 4th of July I will post tomorrow. Have a SAFE time out there to all my American Frens. https://t.co/7wBTYAxG2V pic.twitter.com/rtFlXit8Zs

— Shytoshi Kusama™ (@ShytoshiKusama) July 5, 2022

As the lead Shiba Inu developer Shytoshi Kusama posted that he would soon share a Medium blogpost with the Shiba Inu community, anticipation is growing.

Shiba Inu was down 1.45% at $0.00001 at the time of publication, according to CoinMarketCap.


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