Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Another massive portion of Shiba Inu meme coins have been burned within a week by numerous burn initiatives set up both by businesses and individuals.
From that amount, earlier today, almost 160 million SHIB were removed in a single transaction.
Aside from that, SHIB is back as the biggest crypto holding of the largest 100 whales on Ethereum chain.
1.4 billion SHIB incinerated
@shibburn crypto tracker has published a tweet summarizing the amount of SHIB burnt over the past seven days by various teams and individuals within the token's community.
Since last Monday, the tweet says, a staggering 1.2 billion Shiba Inu have been sent to dead-end addresses, from which SHIB cannot be moved to another wallet or spent on payments.
It took 84 transfers to remove that many SHIB from circulation. The same Twitter account added that earlier today, a total of 158,983,868 Shiba Inu were burned in a single transaction.
In the last 7 days, there have been a total of 1,279,839,897 $SHIB tokens burned and 84 transactions. #shibarmy
— Shibburn (@shibburn) April 17, 2022
328 million SHIB destroyed during burn party
From the aforementioned 1.2 billion SHIB, on Friday, a record 328,089,390 tokens were moved to an "inferno" wallet in a single transaction during a monthly burn event organized by the Travis Johnson SHIB Burn Games Twitter account.
The company ("Super Shib Store" on Twitter) produces games, sells SHIB-themed goods, and uses a portion of their profits from ads and sales to buy Shiba Inu for burning.
Burn events organized by this company take place on the 15th of each month.
328,089,390 SHIB gone forever!https://t.co/Fj8PGW3VXF
— SHIB Super Store (@shib_superstore) April 15, 2022
Thank you to the entire #SHIBARMY for making this possible!
To contribute to the next burn please visithttps://t.co/d0goxr6sys
Games, Apps, and Merchandise all burning SHIB!@howtoburnshiba @ShibInformer @GossipShib pic.twitter.com/Xn8PUOWQ3t
SHIB is the top asset held
According to data from the WhaleStats website, as of now, Shiba Inu is the largest and number one crypto holding of the biggest 100 wallets on the Ethereum chain.
Overall, ETH whales own $1,340,978,839 worth of SHIB with the token being the largest crypto holding by USD value. That is equal to 53,538,324,493,656 meme tokens and 15.11% of their comprised crypto portfolio.
Arman Shirinyan
Godfrey Benjamin
