Shiba Inu Whale (SHIB) bought $300 million in the last 24 hours; close to 23 million SHIB have been destroyed

The Shiba Inu (SHIB) whale is unwilling to lose the FTX token battle, as the two assets are constantly vying for the largest holdings among the largest wallets on Ethereum. Over the past hour, over 10 million SHIB have been burned. That makes it almost 23 million SHIB burned in the past 24 hours.

Shiba Inu (SHIB) once again becomes the largest holding on Ethereum whale-tier addresses

Earlier mentioned the difference between the two assets, where FTX took first place after Shiba Inu lost around $150 million in capitalization among the largest addresses on the Ethereum chain. On January 4th, Shiba Inu’s holdings on whale-grade addresses were valued at around $1.4 billion. As of January 5, the holdings are valued at $1.7 billion.

shiba-inu-whale-shib-bought-300-million-in-the-last-24-hours-close-to-23-million-shib-have-been-destroyed

Source: Whalestats

The $300 million increase in whale holdings could be tied to a price increase on SHIB and a massive purchase of the token from whales. As for the price increase, the price is currently trading with a 1.2% profit, which is less than a $300 million increase in value.

According to U.today, additional market metrics such as volume, active addresses, and net outflow are unlikely to show any positivity, with market volume currently sitting at $3.7 million and down 86%. The market performance of Shiba Inu also shows no signs of recovery or any implication of a trend change, with the asset moving with record low daily volatility over the past seven days. The SHIB price is currently holding at the level it was in December.

Of the total canine coin supply, 41.03006% has been destroyed. A total of 12,231,491 SHIB have been burned in eight transfers to a null wallet. Thus, overall, 410,300,588,013,001 of these meme tokens have been burned. That is 41.03006% of the overall 1 quadriallion supply of SHIB. Almost all of it was burned by Vitalik Buterin after presenting half of the quadrillion.

He burned approximately 40% of his half of the SHIB supply, which was given to him by the SHIB founder. He donated the rest to an Indian charity to help fight the aftermath of the pandemic that is striding all over the globe at the moment, with new variants constantly emerging.

The second tweet posted by this user states that 10,716,185 tokens were burned in the last few hours in a single transaction.

Etherscan also shows that over 49.6 million SHIB have been taken out of circulation in perpetuity over the past four days, with the largest single transaction bearing 11,851,851; 10,716,185 7,335,349 tokens.

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