22.8 Million SHIB to Be Burned This Month via Amazon, 125 Million Removed in 24 Hours
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.
@shib_superstore online shop, which sells games for mobile phones and SHIB-branded merchandise, keeps burning Shiba Inu on a regular basis, including the affiliate program with Amazon.
In the meantime, overall, more than 125 million SHIB have been removed from circulation in the past 24 hours, according to a recent report.
22.8 million SHIB to be burned via Amazon
@shib_superstore is the Twitter page of Travis Johnson, smartphone game developer, whose store sells games, SHIB-branded goods and merch. On a weekly basis, he buys SHIB with a portion of his profits and sends these meme coins to dead-wallets.
In a recent tweet, Johnson spread the word that by now he has earned nearly $300 via the Amazon affiliate program in August in order to buy SHIB with this money and burn it later on. Three hundred dollars equals 22,883,295 Shiba Inu.
Aside from that, one of his games brought $1,200 on Saturday for purchasing and burning SHIB — this amounts to 93,312,597 meme tokens.
August 20th!
— SHIB Super Store (@shib_superstore) August 21, 2022
Slower day than normal, but Saturdays can be that way. $52 on Bricks Buster bringing its monthly total to almost $1200
Amazon is very near $300 for the month, and Upside bringing in another $8 to add to the burn.
My weekly burn is coming up here shortly!#SHIB pic.twitter.com/hi7t0biZAT
Tomiwabold Olajide582 million SHIB gone last week, burn rate spikes 293.75%
According to a recent tweet posted by Shibburn crypto tracker, over the past seven days, a record amount of 582,646,458 SHIB tokens was moved to "inferno" addresses and was locked there permanently.
It took the SHIB army 106 transfers to burn that large of an amount of cryptocurrency.
According to the same source, over the last 24 hours, the community of SHIB fans managed to burn a total of 125,342,401 Shiba Inu. The SHIB burn rate has increased by a whopping 293.75%.
Despite frequent burns, the amount of circulating SHIB tokens remains 558,247,112,903,824, with 31,375,194,854,971 SHIB staked in various DeFi projects.
Whales hold $161 million in SHIB after selling $500 worth of it
As covered by U.Today earlier, more than a month ago, during the first week of July, the top 2,000 Ethereum whales owned as much as $660 million worth of the second largest meme token on the cryptocurrency market.
Now, the amount of SHIB held by these whales has dropped to $161.3 million in SHIB, which means that the whales have sold around half a billion worth of Shiba Inu, while its price was fluctuating up and down.
In the past 24 hours, there have been a total of 125,342,401 $SHIB tokens burned and 11 transactions. Visit https://t.co/t0eRMnyZel to view the overall total of #SHIB tokens burned, circulating supply, and more. #shibarmy
— Shibburn (@shibburn) August 22, 2022
At the time of this writing, the meme token is trading at $0.00001291. The coin remains 85.40% below the all-time high it managed to hit in October 2021: $0.00008845.
Related articles
Gamza Khanzadaev
Tomiwabold Olajide
Dan Burgin
Alex Dovbnya
Vladislav Sopov