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1.1 Billion SHIB Burned in 7 Days as SHIB Is Back on Top 10 Holdings List

Mon, 06/06/2022 - 09:30
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Yuri Molchan
Recent data shared by burn tracker shows that over 1 billion Shiba Inu have been destroyed in past week
1.1 Billion SHIB Burned in 7 Days as SHIB Is Back on Top 10 Holdings List
Cover image via unsplash.com

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The Shibburn project that tracks hourly burns of Shiba Inu and also regularly incinerates meme coins itself has spread the word that in the last week, a massive amount of Shiba Inu has been moved out of the circulating supply—more than 1.1 billion tokens.

A quarter of that amount was burned over the weekend, while SHIB has returned to the list of the 10 biggest holdings of whales.

1.1 million Shiba shifted to dead wallets

According to a Sunday tweet by Shibburn, since last Monday, multiple projects that support Shiba Inu have incinerated a total 1,102,774,392 of SHIB canine coins, sending them to unspendable wallets where they were then locked permanently, and taking 97 transactions to achieve that.

This stash of Shiba Inu is worth $12,472 at the current exchange rate.

From that 1.1 billion SHIB stash, 485.4 million meme tokens were burned over the weekend—191,510,171 and 293,930,173 SHIB chunks destroyed over the past two days.

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SHIB returns to top 10 list of holdings

According to data provided by WhaleStats, the platform that tracks the largest wallets on Ethereum, BSC, Polygon and other blockchains, Shiba Inu has again emerged on the list of top 10 crypto holdings owned by ETH whales.

Currently, the second biggest meme token by market cap holds position four on this list of coins, following USDC and FTX Token.

SHIBholdings_00
Image via WhaleStats

At press time, the top 100 whales on Ethereum chain are holding $513,963,578 worth of Shiba, which constitutes 46,289,862,506,654 meme tokens, or 11.88% of the whales' comprised portfolio.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.

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