Whales Attack 150 Million Burning Meme Coin: Rise To Top Rank!

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  • While the community of the popular meme cryptocurrency took 150 million tokens out of circulation, the biggest Ethereum whales continued to take over the meme coin. This buying frenzy even managed to push the token back to the top spot among whale holdings for a short time.

According to on-chain statistics provider WhaleStats, the top 100 whales on the Ethereum chain have seen a significant rise following the meme coin’s impressive rise over the weekend. Shiba Inu (SHIB) continues to buy.

Another major in the last 24 hours SHIB coin The whales who bought the pile devoured a total of $57 million worth of Shiba over the weekend.

Whales add $24M SHIB to their wallets

According to data provided by the WhaleStats team, the top 100 investors with Ethereum-based coins are worth around $24 million since Sunday. SHIB coin he bought. So far, giant wallets have placed a total of $202,286,128 in the second largest dog currency at their addresses.

shib coin

Before the spike, whales were holding $178,686,986 in the Shiba Inu, according to a tweet posted by WhaleStats on Sunday. Also on the Sunday after the rally, SHIB even managed to top the list of top 10 assets. But so far, the meme token has dropped to fourth place. USDC and USDT stablecoins took the top two places.

The whale-watching platform reports that giant wallets have received $33 million worth of SHIB since Friday; which means that overall, they increased their Shiba stash by the equivalent of $57 million over the weekend.

According to data shared by Santiment, Shiba Inu saw a significant increase in the number of transactions over the weekend. Thus, the network witnessed 430 SHIB transfers worth more than $100,000.

SHIB coin keep burning at full throttle

The SHIB army has been regularly removing meme tokens from circulation for a long time, with the aim of significantly increasing the price of SHIB in the long run. Various platforms are also helping the community. For example, with the participation of a platform that does some of its burning through the Amazon affiliate program, another huge cache has been burned in the last 24 hours.

Another 150 million SHIBs were lost.

from Etherscan Shiba Inu burns Shibburn data, which is a SHIB-focused platform that collects on-chain data about and regularly performs meme token burning, reported that a total of 149,629,741 SHIBs were sent to non-spendable/dead (inferno) wallets on the Ethereum chain in the last 24 hours.

This large amount of Shiba Inu has made 28 transactions by various platforms and individuals.

According to an earlier tweet from this platform’s account, a significant amount of 711,465,891 SHIB coins were locked in dead wallets last week, as reported by KoinFinans. This transaction was valued at US$11,134 in fiat currency. After all these burns, an impressive stack of 292,259,359 meme tokens was mined from the circulating supply between Saturday and Monday.

SHIB surpassed DOGE in Twitter follower count

As previously reported by U.Today, the number of SHIB followers is the original meme cryptocurrency. Dogecoin (DOGE) exceeded. At the time of writing, SHIB has 3.44 million Twitter followers, compared to 3.43 million following Dogecoin’s account.

The Shiba Inu account thanked the SHIB military, calling it “the best community ever”, to celebrate this new significant milestone.

FollowerAudit, on the other hand, looked at the issue from another angle and stated that there were roughly 10 percent fake accounts among the followers of both dog coin accounts. While this amount is 10 percent in total for SHIB, it is 8.7 percent for Dogecoin.

Another milestone reached for Shiba

Alongside this milestone expressing community support, SHIB is also increasing the number of platforms that offer SHIB-based trading pairs to their clients.

Continuing its listing spree non-stop, SHIB has recently moved to St. Petersburg, as reported by KoinFinans. It was also listed on Vincent and the Grenadines-based BlueBit.io.

Founded in early 2022, the platform asked its followers on its official Twitter account on August 7 if they would like the Shiba Inu to be listed, and then confirmed on August 13 that trading had begun for the Shiba Inu on its website.

In addition, VALR, a cryptocurrency exchange backed by the American hedge fund Pantera Capital, will also see its users with Shiba Inu (SHIB) in the coming weeks. USDC Dollar (USDC) announced that they can trade in exchange for stablecoin.

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.


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