122% Increase! Whale Transactions Shot in Meme Coin, Which Has Burned 500 Billion!

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  • With over half a billion SHIB locked 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 big 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 over the past 24 hours Shiba Inu (SHIB) It was destroyed.

Meanwhile, the percentage of SHIB holdings in the portfolio of the top 100 ETH whales has dropped below 11 percent. This amount was around $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 made by the community in just 15 transactions. Shiba token removed from the circulating supply and locked into inferno (dead wallets) wallets, tokens thus “burned” are permanently removed from circulation and this is expected to drive the price up in the near future.

The largest burn transaction here involved almost more than half of the total amount of SHIB destroyed—295,559,819 tokens.

Shib whales became active in the last 24 hours

Shiba Inu whales have become more active in 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 trading volume gives an idea of ​​the total amount of transactions carried out by whales and institutional players on a given day. And according to these data; Big investors, known as whales, seem to be on the hunt for a decent price on the crypto asset as the Shiba Inu network shows significant signs of growth.

shiba token

WhaleStats’ analysis of the top 100 Shiba Inu owners showed an 8.28 percent increase in active addresses as crypto whales interact with billions of Shiba Inu, leading to an increase in the number of large transactions. Besides these, WhaleStats has detected large purchases of Shiba Inu in the last 24 hours.

“BlueWhale0073” received 147 million Shiba tokens

As previously reported by KoinFinans, “BlueWhale0073”, which is ranked 312th according to WhaleStats ranking, recently purchased 147,846,134,326 SHIBs worth $1,562,733.

Interestingly, despite the size of the amount paid to get the cryptocurrency, the transaction cost only $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 the 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 choose the one that best suits their needs and start earning rewards.

Last week, cryptocurrency exchange MEXC Global also announced that SHIB/USDC is listed on their platform, allowing users to trade Shiba Inu against Circle’s USDC stablecoin.

Traded with an increase of $6.5 percent 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 gone through tough times, down nearly 46 percent for the month. But despite the price drops, Shiba Inu has added nearly 32,000 investors to its community since the beginning of May, bringing the number of current holders to 1,171,385 according to WhaleStats data.

You can check the price movements here.

Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, KoinFinans and the author of this content cannot be held responsible for personal investment decisions.


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