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1.2 Billion SHIB Burned in Last 7 Days, 159 Million Moved in Single Transfer Today

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Mon, 04/18/2022 - 10:31
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Yuri Molchan
SHIB army has destroyed almost 1.5 billion meme coins over the past seven days, while SHIB returns as the largest holding of ETH whales
1.2 Billion SHIB Burned in Last 7 Days, 159 Million Moved in Single Transfer Today
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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.

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.

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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.

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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.