According to CoinMarketCap, the trading volume of the second largest meme coin Shiba Inu has increased by over 270% in the last 24 hours. Transaction volume refers to the total volume of coins exchanged between buyers and sellers. The price also gained more than 5% in the same period.
According to data shared by the WhaleStats wallet tracker, SHIB token activity of the top 100 wallets on Ethereum has increased recently, and especially in the last 24 hours, as whales buy from this meme coin.
Whales collect large quantities of Shiba Inu. The data shows that these SHIB purchases were $28,276,518, $17,603,756 and $6,374,148, respectively.
A large amount of SHIB was also burned last week. Over the past seven days, the SHIB army has managed to remove nearly half a billion Shiba Inu from the circulating supply. At press time, the popular meme coin is trading at $0.000008898, according to data from CoinMarketCap.
More than 48 million SHIB sent to dead wallets in the last 24 hours
In the last 24 hours, 48,037,425 meme coins have been sent to dead wallets. Although the rate of incineration is rising rapidly, the number of SHIB burned is comparatively less than at the beginning of last week. During this period, 14.9 million and 16.75 million Shiba Inu were removed from circulation in two major transactions.
Although meme coin started the week on a positive note, it is unclear whether the SHIB team will be able to keep up with this pace.
However, according to the team’s announcement, the community is excited for 2023 and anticipating the launch of Shibarium, which will burn more SHIBs.
You can follow the current price action here.