Several teams of the SHIB community continue to burn Shiba Inu; However, this does not help the token price rise.
According to easily accessible data on Etherscan, in the last 24 hours, about 28 million SHIB have been sent to a zero address.
Nearly the same amount of SHIB has been burned daily over the past few days, as reported by U.Today earlier this week. Meanwhile, the second largest canine coin has shown a 6.5% drop on January 7. Two days ago, it went down almost like that, then recovered and fell again.
At press time, Dogecoin rival SHIB is changing hands at $0.00002974, according to data provided by CoinMarketCap.
Another 28 million SHIB burned
A Twitter user who goes by @shibburn tweeted that, in the last 24 hours, 19,337,093 tokens have been sent to the dead wallet in 11 transactions. However, he later said that 8,612,311 more were burnt in three transfers in the last one hour.
A total of 19,337,093 in the last 24 hours. have been $SHIB Token burn and 11 transactions. So far total 410,300,632,962,694 #shib Tokens (41.03006%) have burned out from the initial supply of 1 quadrillion. #shibarmi
— shibburn (@shibburn) 7 January 2022
Thus, a total of 27.6 million tokens have been sent to unused addresses and removed from circulation for good.
A total of 8,612,311 in the last one hour. have been $SHIB Token burn and 3 transactions. #shibarmi
— shibburn (@shibburn) 6 January 2022
Top SHIB whales adding more despite sell-off, community keeps growing
According to research shared by WhaleStats, a platform that collects data on top cryptocurrency whales – including those storing the shiba inu – the top 100 SHIB whales increased their stake in this meme crypto despite the recent sell-off Have bought more tokens. Dip.
Two days ago, his SHIB balance increased by 2.29% in the last 24 hours. As reported by WhaleStats, the total number of SHIB holders is 1,124,693 at the time of writing. On January 6, that number was slightly lower—1,122,398—showing that the SHIB community is growing by the day.
SHIB listed on Indian exchange, AMC to accept SHIB and Doge in March
On 6 January, India’s youth exchange Coinbazar announced that it has started trading the SHIB/USDT pair. Unlike many other exchanges in India and other countries, this platform does not restrict US residents from trading, hence expanding its client base.
This is another exchange that has listed SHIB in the past few months. Others that have done it are Gemini and Kraken, as well as major platforms in Spain, India, South Korea and Singapore.
In other news, the head of major US movie theater chain AMC announced that, in the first half of 2022, they plan to start accepting SHIB and its rival Dogecoin as a form of payment. They expect it to happen in March.