In late April, the Shiba Inu burn portal was created. The portal, which enables the systematic burning of SHIB tokens, was developed in conjunction with the RYOSHIS VISION token’s developers. Additionally, it said that owners of burntSHIB would receive 0.49% of all RYOSHI transactions.
As reported by U.Today, after the SHIB burn portal launched, SHIB owners went to burn their tokens in great numbers, resulting in an astounding eight billion tokens being destroyed in less than 24 hours. Since the initial burn, which took place about two months ago, more SHIB tokens have been torched.
56,010,002,538 $SHIB Now Incinerated in the Shib Burn Portal. 🔥🔥🔥 pic.twitter.com/9vGghF32sz
— Shib Dream * Shiba Inu News * ShibArmy.co 💎 (@theshibdream) June 26, 2022
As the Shiba Inu burn portal continues to achieve new milestones, recent reports indicate that more than 56 billion SHIB tokens have been burned.
Shiba Inu trading volume spike
SHIB ranks among the top 10 by trading volume among the 100 biggest ETH whales in the last 24 hours as accumulation continues. Shiba Inu continues to face buying pressure from whales as it ranks among the top 10 most purchased tokens among the 2,000 biggest ETH whales in the last 24 hours.
Presently, the top 5,000 ETH whales are hodling $663,117,830 worth of SHIB. Shiba Inu also remains the biggest token position held by whales. At the time of publication, Shiba Inu was trading down nearly 7.52% at $0.000011, up 33.79% in the past week.
On June 21, Shiba Inu (SHIB) sharply rose more than 45% to become one of the biggest gainers in the crypto market. The Shiba Inu holder count has jumped to 1,189,796, according to WhaleStats, demonstrating growth in June.