While Shib has been successful in surpassing FTX in whale wallets, the community has liquidated a massive amount of coins within 2 days.
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- 316 million SHIB burned
- SHIB overtakes FTX as whales’ top holding
Over the past two days, the Shiba Inu community has gotten rid of a significant amount of SHIB, and stashed them in non-expendable wallets.
Meanwhile, the second largest canine crypto has surpassed its regular superior, FTX Token, to rank 10th among the largest crypto holdings by USD value in the past 24 hours.
316 million SHIB burned
Over the past two days, the SHIB Army has moved a total of 315.7 million Shiba Inu Canine coins to the dead-end wallet, removing them from the total SHIB supply currently out there.
In the past 24 hours, 75,737,142 coins were transferred by various Bern projects, locking many SHIBs from performing 11 transactions. On June 14, the amount of SHIB burned in 24 hours comprised more than a quarter of a billion – 239,535,584 Shiba Inu.
Token burning is a common practice in the crypto space as it is a foolproof way to reduce the circulating volume of crypto and thus increase the chances of its price going up in the long term.
SHIB Burns happen on a regular basis, with many projects burning as many meme coins as they can afford.
Total 239,535,584 in last 24 hours. have been $SHIB Token burn and 11 transactions. Visit https://t.co/t0eRMnyZel to see the total #shib Token burn, circulating supply, and more. #shibarmi
— shibburn (@shibburn) June 15, 2022
SHIB overtakes FTX as whales’ top holding
The WhaleStats on-chain data platform, which focuses on the top 100 wallets on Ethereum, BSC, Polygon and other chains, has campaigned about Shiba Inu swapping locations with a coin that usually ranks higher than SHIB on ETH’s list. is more. Whale’s Top 10 Holdings.
This time around, Shiba has surpassed the FTX token (FTT), the native coin of the popular US-based FTX exchange. However, at the same time, the total amount of SHIB held by these whales has dropped to a little less than $400 million, reaching a negative milestone. SHIB is now sitting at 3rd position, with FTT at 4th position.
At the time of writing, the top 100 whales on the Ethereum chain have a Shiba Inu worth $391,244,610, while this amount had risen to over $500 million or $1 billion before the bear market began and a significant drop in the price of the SHIB she came.
As for the FTX token, the total amount of this coin owned by Whale is currently $328,626,696 in FTT, which is 9.28% of their included portfolio. As far as SHIB is concerned, it is 11.7% of it.
Despite losing FTT’s popularity with whales, the owner of the “bluewhale0079” wallet, which has bought nearly 500 billion SHIB this month, has acquired 250,000 FTX, valued at $6,112,500.
According to the scale of WhaleStats, this whale is currently ranked 410th.
ETH whale “bluewhale0079” just bought 250,000 #ftx Token ($6,112,500 USD).
Ranked #410 on WhaleStats: https://t.co/ed7FkE3BVV
Transaction: https://t.co/cgtb407EFT#ftx token #ERC20 #DEFI #ETH #whalestats #babywhale #bbw
– WhaleStats – BabyWhale ($BBW) (@WhaleStats) June 15, 2022