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600.7 Million SHIB Burned in 5 Transfers by Shiba Inu Fans, Here's What Happened

Fri, 03/18/2022 - 10:03
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Yuri Molchan
Yet another significant amount of Shiba Inu has been removed from circulation over the past day
600.7 Million SHIB Burned in 5 Transfers by Shiba Inu Fans, Here's What Happened
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Over half a billion Shiba Inu meme coins have been sent to dead-end wallets over the past 24 hours, according to the @shibburn service that tracks Shiba Inu burn transactions on Etherscan.

SHIB army keeps removing tokens

The website of the Shibburn service shows that since yesterday morning, a whopping 600,729,245 canine coins have been sent to several "inferno" crypto addresses, from where no one can spend or withdraw them. It took the participants five transactions to achieve that.

The largest single transfer on that list carried 595,232,837 SHIB. This sum in crypto was moved to a dead-end wallet from the 0x95a9bd206ae52c4ba8eecfc93d18eacdd41c88cc address 15 hours ago.

This massive sum in SHIB tokens was incinerated by Travis Johnson's SHIB burn games Twitter account, as covered by U.Today on Thursday, March 17. That was a scheduled token burn, and the destroyed amount of canine tokens was worth $13,356.

A much smaller amount of SHIB was destroyed during the previous two days – slightly more than 37 million Shiba Inu.

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A whale grabs 271.3 billion Shiba Inu

On Wednesday, an anonymous crypto whale purchased an astounding 271,370,420,624 SHIB worth roughly $6,143,035 at the time of the acquisition. At press time, as the SHIB price has declined a little, this sum in SHIB comprises around $400,000 less.

This morning, SHIB printed a massive red candle on the hourly chart as it kept going down, losing almost 2% of its value.

Since March 17, when the token managed to reach a local peak of $0.00002281, the SHIB price has dropped 4.23%, trading at $0.00002185 at the time of writing.

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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.