According to new data, the Shiba Inu (SHIB) community, one of the most popular meme coins, has burned almost 1 billion coins. Here are the details…
Shiba Inu community burned 1 billion coins
According to the data shared by Shib Burn, almost a billion tokens were destroyed from the total amount of SHIB circulating in the market in the last two days. The “Burn” portal monitors incineration processes and provides SHIB incineration. According to tweets shared by the service in question, in the last 24 hours the Shiba community has transferred a total of 948.6 million SHIB to their burn wallets. Since these wallets belong to unavailable addresses, the transferred SHIBs are removed from circulation.
In the past 24 hours, there have been a total of 341,113,385 $SHIB tokens burned and 25 transactions. Visit https://t.co/t0eRMnyZel to view the overall total of #SHIB tokens burned, circulating supply, and more. #shibarmy
— Shibburn (@shibburn) May 14, 2022
They removed 607.530.847 SHIB in the first 24 hours followed by 341.113. 385 SHIB were sent to non-spendable wallets and permanently locked there. Converted to USD, 950 million SHIB in fiat currency is equivalent to $11,058.
The latest developments in the SHIB ecosystem
Meanwhile, in the SHIB ecosystem, many developments welcome users. Shiba Inu is now officially listed on the Middle East’s top crypto exchange Rain, as we have previously reported as Kriptokoin.com. In a recent tweet, the company officially announced that the Shiba Inu is now available to users. Shiba Inu’s roster on Rain has been highly anticipated since the team dropped hints about the listing.
Another development was the acquisition of SHIB by large investors, namely whales. According to WhaleStats, a major Ethereum investor with the wallet name “BlueWhale0073” purchased 109,842,128,610 meme tokens for $1,408,176. Whale had previously sold most of the SHIB it bought as it was included in the smallest part of its meme token portfolio. According to data from CoinMarketCap, the Shiba Inu is currently traded in over 185 markets. The coin is trading at $0.00001231 at the time of writing, down 3 percent. SHIB, which is in the sixteenth place with its market capitalization and comes after DOGE, has lost 36% in the last 7 days and 38.9% in the last 14 days.
