Nearly half a billion meme coins destroyed by SHIB military as coin shows decline
Over the past 24 hours, various SHIB Burn initiatives have managed to send 463,342,447 Shiba Inu tokens to the “inferno” address, where they will be locked on a permanent basis, according to the @shibburn Twitter account.
While these burns are taking place, the price of the Shiba Inu has seen a drop of more than 10% since yesterday morning, while several initiatives to reduce the circulating supply of the shiba are expected to increase prices.
463.3 million SHIB destroyed
@shibburn The token burn tracker that focuses only on Shiba Inu and operates the larger SHIB burn itself has shared that as of Thursday morning, 463,342,447 meme coins have been included.
Burning the equivalent of $11,782 in SHIB has left 31 transactions dead-end wallets. The largest single transfer here was done 21 hours ago, and it accounted for almost half of the total destroyed amount of SHIB—242,328,377.
A total of 463,342,447 in the last 24 hours. have been $SHIB Token burn and 31 transactions. Visit https://t.co/t0eRMnyZel to see the total #shib Token burn, circulating supply, and more. #shibarmi
— shibburn (@shibburn) 1 April 2022
SHIB is back in the list of most bought properties
The WhaleStats crypto on-chain data tracker focusing on the 100 top whales on various chains including the Ethereum and BNB chain has reported that after some time, SHIB will return to the list of most bought digital currencies by the largest ETH whales. Gone.
At the time of writing, these major investors hold $1,487,330,378 worth of SHIB (53,601,377,248,813 tokens), which comprises 14.27% of their portfolio.
This marks a significant increase from earlier this week, when Whales held $1.3 billion worth of meme tokens in their portfolio.
In other news, SHIB ranks fourth among the top bought coins after USDC, ETH and USDT.
“Tolkien’s Whale” Raised 175 Billion SHIB
As previously reported by U.Today, the top 20 ETH whale, “Bombur,” bought 175.2 billion Shiba Inu, paying $4,553,868 for that amount of crypto. The purchase was made in three transfers of an average of 58 billion tokens. The name comes from a world-famous fantasy novel by JRR Tolkien, “The Hobbit: Or, There and Back Again.”
Another whale that’s been buying SHIB in bulk this year, “Gimli,” got its name from “The Hobbit,” the sequel to “The Lord of the Rings.”
However, following the purchase, Whale sold the majority of the SHIB he had bought, according to WhaleStats.