Another big chunk of the Shiba Inu was burned within a week by various burning initiatives set up by businesses and individuals. From that amount, earlier today, almost 160 million SHIB were removed in one transaction.
1.4 billion Shiba Inu (SHIB) burned
Besides, SHIB is back as the largest crypto institution among the 100 largest whales on the Ethereum chain.
Shibburn published a tweet summarizing the number of SHIBs burned over the past seven days by various groups and individuals in the token community.
Since last Monday, a staggering 1.2 billion SHIB has been sent to dead ends, from where the SHIB cannot be transferred to another wallet or spent on payments. It took 84 transfers to remove that many SHIBs from circulation. The same Twitter account added that earlier today, 158,983,868 Shiba Inu were burned in just one transaction.
In the last 7 days, there have been a total of 1,279,839,897 $SHIB tokens burned and 84 transactions. #shibarmy
— Shibburn (@shibburn) April 17, 2022
From those mentioned above, 1.2 billion SHIB, a record 328,089,390 tokens were moved to the wallet “hell” in a single transaction during the monthly recording event led by the Travis Johnson SHIB Burn Twitter account. Games organized.
The company (“Super Shib Store” on Twitter) makes games, sells SHIB-themed merchandise, and uses a portion of profits from advertising and sales to buy Shiba Inu to burn. The burn event organized by this company takes place on the 15th of every month.
328,089,390 SHIB gone forever!https://t.co/Fj8PGW3VXF
Thank you to the entire #SHIBARMY for making this possible!
To contribute to the next burn please visithttps://t.co/d0goxr6sys
Games, Apps, and Merchandise all burning SHIB!@howtoburnshiba @ShibInformer @GossipShib pic.twitter.com/Xn8PUOWQ3t
— SHIB Super Store (@shib_superstore) April 15, 2022
Shiba Inu is the largest cryptocurrency and number one, holding the 100 largest wallets on the Ethereum chain.
Overall, ETH whales own SHIB worth $1,340,978,839, with the token being the largest crypto holding by USD value. That equates to 53,538,324,493,656 meme tokens and 15.11% of their inclusive crypto portfolio.
Read more:
- Shiba Inu (SHIB) Remains Top Holding Among Top 1,000 ETH Whales
- Shiba Inu Gains More Traction Among Whales, But It Is Still Not Enough For Another Rally