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4.76 Billion SHIB Burned in July as Staggering Amount of SHIB Sent to Dead Wallets

Mon, 08/01/2022 - 10:50
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Tomiwabold Olajide
This comes as huge amount of SHIB was deposited to dead wallets in recent hours
4.76 Billion SHIB Burned in July as Staggering Amount of SHIB Sent to Dead Wallets
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According to the Shibburn Twitter handle, a whopping 4,762,745,494 SHIB tokens were burned in July with 505 transactions. This comes as a significant amount of SHIB has been sent to dead wallets in recent hours.

The Shibburn tracker reports an astounding 6,645,872 SHIB sent to dead wallets in a single transaction in the last hour. Also, another 1,360,730 SHIB tokens burned in a single transaction were reported by the Shib burn tracker.

Meanwhile, over 216,487,142 SHIB tokens were burned over the last 24 hours, and 32 transactions were reported by the Shib Burn Twitter account about five hours ago.

Expectations continue to increase for upcoming events

Shiba Inu has posted a mysterious video tweet on its official Twitter handle, stoking expectations. This is a sequel to that which was posted in the past week, which was instead an image of a game console.

Shiba Inu's lead developer, Shytoshi Kusama, seemed to give an indication of what the surprise could be by posting a Playside image with the "caption CCG get in position" along with the video teaser.

According to WhaleStats, Shiba Inu continues to smash ground-breaking milestones in its holder count, reaching over 1,216,000 holders. At the time of publication, the number of Shiba Inu holders was 1,216,316, per WhaleStats data.

The top 500 ETH whales are also now "hodling" $643,438,792 worth of SHIB. The analysis of the top 100 Shiba Inu holders by WhaleStats also revealed a 30.36% increase in the average Shiba Inu balance amid recent accumulation. In the past day, the average SHIB value has also increased by 28.73%.

Shiba Inu was up 1.60% at $0.0000121 at the time of publication, according to CoinMarketCap.

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About the author

Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.