Another significant portion of circulating Shiba Inu (SHIB) has been removed and locked up permanently

Over the past 24 hours, nearly 1.5 billion Shiba Inu (SHIB) have been burned, significantly reducing the number of coins in circulation. The goal is to reduce supply, and increase demand, thereby driving prices up.

Shiba Inu (SHIB) army burns 1.4B tokens, removing 1B in a single transfer

The total SHIB burned in the last 24 hours constitutes 1,408,069,572 tokens. This result was achieved by executing more than 55 trades. The largest single transfer moved a staggering 1,408,069,572 SHIBs to the dead wallet eight hours ago and it was made from address 0xffd50e51186fce01bd8c386a0202080255996fbd.

The burning rate of Shiba Inu has increased by 453.25% in the last 24 hours. The current circulating supply amounts to 552,480,492,362,785 tokens, while a total of 410,338,867,258,518 SHIB have been burned. Over 700 million SHIBs were burned within 24 hours. Such large SHIB fires in such a short time have been rare recently, and the fires are much smaller.

While the community is trying to burn Shiba Inu tokens, whales collect large amounts of them to profit from buying low and selling high. Earlier today, two large ETH whales bought 130.5 billion SHIB. One of them currently holds over 1 trillion of these popular dog tokens.

Previously, Digital Currency Group’s partner, Jamestown, started accepting SHIB, Dogecoin, and other cryptocurrencies after partnering with payment processor BitPay.

The company, which focuses on real estate investment and management, intends to start accepting cryptocurrencies for rentals in the US while expanding into the European market. According to Michael Phillips, president, cryptocurrency adoption is the company’s first step in integrating innovations related to the digital sector.

Owners of two major Ethereum wallets have acquired 130.5 billion token memes. One of these whales held more than 1 trillion SHIB.

Ethereum investor “BlueWhale0073” bought back 77,863,856,441 SHIB for $1,679,523 earlier today. Before that, another whale – “Bombur” – had touched a slightly smaller but still significant amount of Shiba.

This investor, whose wallet name derives from Tolkien’s fantasy novel, “The Hobbit: There and Back Again,” obtained 52,722,964,285 SHIB. “Bombur”, currently holds a total of 1,018,537,622,377 SHIB worth $21,847,632. That’s 5.8% of his portfolio.

Wallet “BlueWhale0073” contains USDT as the largest holding (62.77%). The biggest investment positions hereafter USDT are USDC, LINK, MATIC, and UNI. MATIC and USDC accounted for 15.36% and 15.35%, respectively. On May 4, the owner of this wallet also purchased 70,606,169,414 SHIB.

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