Another large portion of Shiba Inu has been taken out of circulation


In the past 24 hours, 21.7 million Shiba Inu (SHIB) were burned. In addition to tracking SHIB write transactions, this company also destroys tokens.

29 million Shiba Inu (SHIB) burnt over the last 24 hours

Besides, another SHIB burning platform reported that they burned 6.5 million coins as of year-end. Meanwhile, the second-largest canine cryptocurrency price by market capitalization, Shiba Inu, has lost around 17%.

Within the past 24 hours, a total of 21,731,142 SHIB tokens have been removed from circulation. Another 1,882,892 SHIBs were burned in the last hour. These SHIBs were moved to a dead wallet, where they are now permanently locked with no chance to be spent or withdrawn to another address. It took 12 transactions to move that SHIB to an untrusted wallet.

The Shibburn platform aggregates SHIB write transfer data from the etherscan tracker and its website for easy access.

In addition, another group of enthusiasts burn SHIB reported having destroyed about 7.5 million SHIB. Last week, a total of 152,439,298 Shiba Inu tokens were moved to a dead wallet and locked there forever.

Also, in the past week, the price of Shiba Inu has plummeted by nearly 17%, dropping from $0.00002738 to $0.00002323. Currently, SHIB is up 6.27% and is trading at $0.0002420 on the Binance exchange.

another-large-portion-of-shiba-inu-has-been-taken-out-of-circulation

SHIB/USD 4-hour chart | Source: TradingView

On February 25th, two large Ethereum whales purchased a 105.8 billion Shiba Inu. Those are the whales ranked 1st and 12th by data platform WhaleStats. These investors have bought into SHIB 50 billion and 55.8 billion, respectively, while the price plummeted.

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