2.5 million Shiba Inu (SHIB) was burned, while 1.5 million SHIB are waiting

The owner of the cryptocurrency label Bigger Entertainment, Steven Cooper, took to Twitter to announce that his project team has burned a large amount of Shiba Inu, 2.5 million, while 1.5 million SHIB is also waiting to be taken out of circulation. Cooper posted a link to etherscan in his tweet, proving that 2.5 million SHIB was destroyed.

Another 2.5 million Shiba Inu (SHIB) burned, with over 3 billion SHIB destroyed

A few days ago, on December 26, the project conducted a scheduled “burning party” in which 239,600,144 coins were sent to an address hollow. This large sum, together with those mentioned earlier, 2.5 million, makes up a total of 884,983,100 SHIBs removed by the project as of October 20.

The project head has promised more big announcements about future SHIB fires will appear on his Twitter page soon. This month has been “rich,” with SHIB tokens being burned. According to a tweet by a SHIB-specific Twitter user, “SHIBtyme,” this month, the SHIB community removed 1,943,391,652 tokens.

Along with those mentioned earlier, 242.5 million, 370.4 million SHIB were burned by the SHIB community on December 26-27, and 706 million were burned on December 23, according to data provided by etherscan. It all adds up to another 1.3 billion.

Thus, about 3.3 billion SHIB was sent to the dead address in December.

Bigger Entertainment’s Steven Cooper has also announced that his team plans to burn $100,000 worth of SHIB but has yet to reveal details. This equates to 2,943,773,918,163085 SHIB. He has also revealed that his team is building the SHIB Fitness app, promising to announce his partner soon, who will help build it.

SHIB whales increase their average holdings by 28%

SHIB whales currently hoard more tokens in their wallets as the average SHIB balance on whale wallets increased by 28% and reached 2.6 billion tokens.

An increase in balances on whale-grade addresses was noticed following the retracements amid the rally that yielded 28% returns for SHIB investors in 4 days. But due to the sell-off of larger cryptocurrencies like Ethereum and Bitcoin, the Shiba Inu rally ended, resulting in a 13% drop in two days.

Source: WhaleStats

During the recovery, whales bought over $400 million worth of tokens, which is the reason behind the growth of the average token balance. As the asset recovered from a slight recovery, the whale continued to hold the token.

But while the SHIB value of the whale holdings remained the same and even increased slightly, the USD value of their fund dropped by $300 million from $2 billion at the start of the week to $1.7 billion by the end of the week.

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