- A meme known for its constant and intense burnings has removed nearly 200 million tokens from circulation in 4 days, following the last 1 billion burn in cryptocurrency. The giant investors of meme coin, on the other hand, did not stop filling their caches.
The SHIB army continues to lock up Shiba Inu (SHIB) in dead wallets and make heavy purchases in hopes of raising the price of the meme coin, but these investors still haven’t hit their targets so far.
After the community burn event last week, which removed over 1 billion Shiba Inu from circulation, another 200 million meme tokens were burned as part of a long-term SHIB burn initiative.
Nearly 150 million Shiba destroyed
It is a tracking platform that actively performs SHIB burning and can track the amount of SHIB tokens burned by the Shiba Inu community. shibburn According to data shared by the website, around 149.6 million meme coins have been moved to non-spendable wallets to be permanently locked there in the past few days.
The burn rate of the popular meme cryptocurrency, on the other hand, has dropped by about 50 percent, which shows that burns by the Shiba Inu community have lagged behind compared to previous days.
The largest part of the burnings, which took place in the Big 4 caches, was 87,574,132 SHIB in the last 24 hours. It took 12 transactions to move this amount of cryptocurrency to dead wallets. Prior to that, 12,738,009, 18,875,469 and 30,614,624 SHIBs were burned, respectively.
In the past 24 hours, there have been a total of 87,574,132 $SHIB tokens burned and 12 transactions. Visit https://t.co/t0eRMnyZel to view the overall total of #SHIB tokens burned, circulating supply, and more. #shibarmy
— Shibburn (@shibburn) July 23, 2022
SHIB holder count reaches new milestone
According to WhaleStats, the Shiba Inu has reached a record breaking milestone, reaching over 1,210,000 investors. At the time of writing, the number of Shiba Inu owners stood at 1,210,718, according to data from the shit chain tracking platform WhaleStats.
🏆 New Record: $SHIB reaches an astonishing 1,210,000+ holders.
Current Holder Count: 1.210.037
💹 The top 1000 ETH wallets are holding 57,414,619,561,170 $SHIB ($658,535,219 USD)
Source: https://t.co/keN3btSnKj#SHIB #ShibArmy
— WhaleStats (free data on crypto whales) (@WhaleStats) July 20, 2022
Alongside these, on Friday, a whale wallet named “BlueWhale0159” and located on the Ethereum blockchain bought 150 billion Shiba Inu, worth $1,750,500 at the time of the transaction. The investor still holds these cryptocurrencies, unlike other whales who sell them or move these coins to other wallets immediately after purchasing them.
The Shiba Inu is trading at $0.00001149 at the time of writing, down nearly 2 percent in the last 24 hours. However, the meme cryptocurrency has risen 6 percent since last week.
You can follow the current price action 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.