- After 573 million meme tokens were sent to dead addresses, the burn rate of a meme cryptocurrency known for its constant and intense burning increased by 785 percent.
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 the data shared by the website, the burning rate of the Shiba Inu has increased significantly in the last 24 hours. As reported by the Shib Burn Twitter account a few hours ago, 519,456,549 in one transaction. SHIB token was burned. This major transaction was followed by other transactions carrying a significant amount of SHIB to be incinerated.
According to the Shibburn website, shib burn While the rate reached 785 percent, 573 million SHIB were sent to dead wallets. More than 1.2 billion SHIBs were sent to dead wallets last week due to the Shiba Inu community’s enthusiasm for token burning.
As reported by KoinFinans, Shiba Inu lead developer Shytoshi Kusama supported the community on burns, noting that the biggest requirement for great Shiba Inu burns is a “true community effort,” and announced that the project will continue to work continuously to increase burns:
“Great teams will require a real community effort, and we’re working on that on multiple fronts. It will take time, but I hope the timing will be perfect!”
Massive burns will require a true community effort and we are working towards it on many levels. Will take time and I hope the timing works out perfect!
— Shytoshi Kusama™ (@ShytoshiKusama) July 18, 2022
Schedulesite adds the Shiba Inu to its platform
By Shibainuart, a Twitter account focused on the Shiba Inu community shared Schedulesite, a platform that creates events for followers to join, announced the addition of SHIB to its platform and praised the Shiba Inu community in a tweet:
“We are excited to add SHIB events to our platform! Thank you for warmly welcoming us on your platform! You have an impressive community…”
We’re excited about adding #SHIB events to our platform! Thank you for welcoming us warmly to your Space! You have an impressive community. We hope to help grow it with you, through https://t.co/tO5n6iW8dk!
— Schedulesite (@Schedulesite) July 18, 2022
Whales interest again on SHIB
Besides, according to WhaleStats, a popular whale watching platform, the Shiba Inu is currently among the top 10 assets in terms of trading volume by the top 100 ETH whales, according to the last 24-hour data.
The meme cryptocurrency is also among the most used smart contracts among the 5,000 largest ETH whales by 24 hours. The Shiba Inu also returned to the top spot as the largest holding of whales, with the first 100 ETH whales worth $552,365,002, with SHIB occupying 19.44 percent of their portfolio.
Number of Shiba Inu holders is also WhaleStats to the data According to the current level of 1,207,857 continues to grow. Moreover Shiba Inu priceIt is currently trading at $0.00001236, up 6.3 percent, the daily high.
Analysts also expect Bitcoin and Ethereum to continue to rise, resulting in more bullish momentum for SHIB. In addition, if the Shiba Inu team manages to organize additional burning events, SHIB price It is expected that it can quickly push towards the $0.000002000 level and as traders rush to the meme token due to FOMO, these can snowball into crazy bullish momentum.
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.