The Whales of Meme Coin, whose Burn Rate increased by 330%, Gathered from the Bottom!

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  • Shiba Inu burningDespite the difficult market conditions, the number of investors holding SHIB increased tremendously as prices fell.

As the Shiba Inu community finds an opportunity for big burns, taking advantage of the falling prices of the popular dog-themed cryptocurrency, Shiba Inu (SHIB) The burning rate has increased by 332 percent in the past day. The community has burned 324.21 million SHIB tokens in the last 24 hours.

SHIBArmy continues to constantly burn the popular dog-themed cryptocurrency in the form of millions of tokens, reducing the circulating supply of Shiba Inu.

The massive selling panic in the global cryptocurrency market gained momentum on Monday. The Shiba Inu has fallen further in the last 24 hours to a new low of $0.00000743, providing an opportunity to burn additional Shiba Inu at a low cost.

The Shiba Inu community has made the most of the discounted prices. It is a monitoring platform that actively burns SHIB and can track the amount of SHIB tokens burned by the Shiba Inu community. shibburnAccording to the latest report of Dogecoin rival, the burn rate has increased by 332 percent in the past day as Shiba Inu supporters destroyed a total of 324,211,278 (324.21 million) tokens in fifteen separate transactions.

Shiba Inu burning

Whales collect meme coin from the bottom

Only those who evaluate the price drop Shiba Inu burning It wasn’t those who did it, the biggest ETH whales are also taking over the world’s 17th leading cryptocurrency. According to data from whale watching platform Whalestats, a key Ethereum investor named “BlueWhale0073” has amassed a total of 356.07 billion SHIB tokens worth $3 million in one major transaction.

Best ETH Whales, Shiba Inu history “To the Demand Zone”ie entering the 0.000000511 to 0.000000951 US dollars level, it once again started to benefit from the discounted prices.

Whales are also uploaded to FTT and MATIC

While FTT is identified as the largest Ethereum whale holding by USD value, WhaleStats also reported that a staggering amount of FTX Token purchases were made by investors on the ETH chain.

“BlueWhale0116”, “BlueWhale0079” and “Bonobo” which are whales investing in ETH. ; purchased 771,779, 6,500,000 and 15,000,000 FTX, respectively. All together, these FTT amounts paid $510.5 million.

The whales also added approximately 5.8 million Polygons (MATIC), valued at $2.4 million at the time of purchase.

On top of all these developments, the Shiba Inu has gained a total of 5553 holders since the beginning of June. According to Etherscan.io, the total number of SHIB holders has reached 1,178,400 (1.17 million) investors. At the end of May, that number was around 1,172,847 (1.17M).

SHIB survives a falling market

Despite all the positive developments, Shiba Inu price It failed to hold the critical support level of $0.0000095 and fell further below it and hit a recent low of $0.00000743. At the time of writing, the Shiba Inu is trading at a price of $0.000000829, with a 24-hour trading volume of $702,322,959 ($702.32 million), an increase of over 9 percent from last day.

After widespread selling in the overall crypto market deteriorated on June 13 (Monday), the global crypto market cap fell below $1 trillion for the first time since November 2021, when it reached $3 trillion.

besides SHIB Cardano (ADA), Left (LEFT) and several other cryptocurrencies on the top 20 list also showed significant growth.

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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