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Shiba Inu Burn Rate Jumps 706% as Holder Number Soars High Overnight


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Yuri Molchan

SHIB army keeps removing meme coins from circulation with new users joining network all the time


As shared by Shibburn Twitter handle that represents a popular burn tracking service, during the period of the last 24 hours, the burn rate of SHIB has seen a substantial increase, rising by more than 700%.

Meanwhile, the prominent meme coin SHIB has again gone off the top 10 list of the largest wallets on the Ethereum chain.

SHIB army raises burn rate overnight

According to the website of Shibburn, in the past 24 hours, the burn rate of Shiba Inu surged by a whopping 706%. This happened after 16,037,016 SHIB were sent to “inferno” wallets.

The biggest burn-transaction here contained 8,495,098 Shiba Inu made by an address ending in -ffdeaa.

On the whole, the total amount burned this week, per data that has been shared by the aforementioned tracker, will hardly exceed 100 million meme coins.

Image via Shibburn

SHIB disappears from top 10 asset list

WhaleStats tracker that aggregates data related to wallets on several leading blockchains, including Ethereum, BSC and several others, over the past 24 hours, Shiba Inu canine crypto has disappeared from the top 10 list of assets held by the largest 100 whales on Ethereum.

This is the second time it has happened this month, and now the whales have added MANA, stETH and ANT as their biggest holdings. Their comprised portfolio now contains 35.59% of MANA, 34.21% of stETH (both worth over $1,000,000 in fiat equivalent) and 12.45% of ANT ($370,000 in USD).

Image via WhaleStats

Still, SHIB continues to add more users in the thousands. Over the past 24 hours, the total amount of SHIB holders rose by roughly 1,000, rising from 1,265,003 to 1,266,039 now. Earlier this week, the SHIB holder count also demonstrated big rises within one day, as covered by U.Today.

As for the SHIB price, at the time of this writing, it has dropped to $0.000008616, losing 3.37% in the past 24 hours, as per data provided by CoinMarketCap.


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