Shiba Inu Army Destroys 1 Billion Meme Tokens in Last 48 Hours: Report
Nearly a billion Shiba Inu has been sent to unusable wallets in the past two days
In the past 48 hours, the massive SHIB army has removed nearly a billion meme tokens from the total amount of Shiba Inu circulating in the market, according to data shared by @shibburn.
This platform tracks burn transactions and destroys SHIB itself from time to time.
In the meantime, a whale has bought another huge portion of Shiba Inu.
950 million Shiba burned
According to tweets shared by the aforementioned service, the Shiba community has transferred a total of 948.6 million SHIB to dead-end wallets in the past 24 hours.
Within the first 24 hours, they deleted 607,530,847 SHIB and then 341,113,385 Shiba Inu was sent to unusable wallets and locked there permanently.
In the last 24 hours, there are a total of 607,530,847 $SHIB tokens burned and 12 transactions. Visit https://t.co/t0eRMnyZel to see the total total of #SHIB tokens burned, circulating stock and more. #shibarmy
— Shibburn (@shibburn) May 13, 2022
However, when converted to USD, SHIB in fiat 950,000,000 is not as large as in crypto – $11,058 at the current exchange rate.
In the last 24 hours, there are a total of 341,113,385 $SHIB tokens burned and 25 transactions. Visit https://t.co/t0eRMnyZel to see the total total of #SHIB tokens burned, circulating stock and more. #shibarmy
— Shibburn (@shibburn) May 14, 2022
Whale acquires 110 billion SHIB
While some are scrambling to pull more and more SHIB tokens out of circulation, hoping to eventually see the price skyrocket, whales continue to buy SHIB during the dip and later sell it after even the slightest rise.
According to WhaleStats, a major Ethereum investor, whose wallet is titled “BlueWhale0073”, has bought an equivalent of $1,408,176 in SHIB – 109,842,128,610 meme coins.
🐳 ETH Whale “BlueWhale0073” Just Bought 109.842.128.610 $shib ($1,408,176 USD).
Ranked 284 on WhaleStats: https://t.co/RBupemZyZX
— WhaleStats – BabyWhale ($BBW) (@WhaleStats) May 13, 2022
The whale has already sold most of the SHIB he bought, as the meme token is included in the smallest fraction of his portfolio — 0.42 percent worth $37,794 — along with other tokens: HEX, DAI, etc.