This Shiba Inu burner has already destroyed more than 4.7 billion SHIB since last year

According to Shib Superstore Twitter account, an active member of the Shiba Inu community who has been burning SHIB since last year, he expects to burn more tokens than in July. Besides, he said that by now he has burned nearly 5 billion SHIB overall.

This Platform Burns 4.7 Billion Shiba Inu (SHIB), Planning to Surpass July Burns in August

Travis Johnson tweeted that August has so far been more successful for accumulating SHIB which will later be burned than July. During the previous month, according to the chart shared in the recent tweet, $1,000 worth of SHIB was burned. By now, on August 13, Travis wrote, he is “just about the halfway point of last month”. Another major milestone mentioned in the tweet is that by now, the total amount of canine tokens burned by this platform has surpassed $60,000. That is equal to 4,734,648,653 Shiba Inu.

A week ago, Johnson attracted the attention of the SHIB community with his tweet, saying that he knew how a staggering 1.3 billion SHIB could easily be removed from circulation on a daily basis. The game developer wrote that it could be achieved with the help of the full arsenal of tools his website offers – mostly, it contains various mobile games that general income from advertising partly spent on burning SHIB.

However, the current mechanism of burning SHIB tokens seems to be rather inefficient as this week over the past two days only as little as 30 million SHIB was burned, which is 0.0005% of the coin’s circulating supply. Besides, around 10 percent of the supply is concentrated in the hands of the 100 largest wallets on Ethereum and these whales seem to be unwilling to part with their SHIB to burn them.

Whales Grab $33 Million in SHIB Over Past 24 Hours But There’s a Catch

Top Ethereum whales continue to buy up Shiba Inu, however, the total amount of this meme coin in their wallets has diminished and now they hold less than $200 million in SHIB.

In a recent tweet, WhaleStats crypto data company which pulls focus on the 100 largest wallets on the Ethereum chain announced that over the past 24 hours, these whales have added $33.2 million worth of Shiba Inu – the second largest canine cryptocurrency by market cap after Dogecoin. Now, these top 100 wallets are holding a total of $179,344,952 in SHIB compared to $150,185,634 on Friday.

Whales’ SHIB holdings shrink by more than 50% Data provided by WhaleStats shows that compared to just recently, the total amount of SHIB held by the Ethereum whales has seen a drastic decrease. As early as last week, on August 3, these wallets held more than $600,000,000 worth of Shiba Inu. A roughly similar amount was spotted in their wallets by WhaleStats on August 7 – that was 10 percent of the total SHIB supply in circulation. By the time of this writing, this large stash has shrunk to merely $180 million as reported above. Besides, overnight Shib lost its leading position on the top ten list of whales’ holdings. Now it sits on the second spot, while LOCUS holds the first position there.

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