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707 Million Shiba Inu Tokens Burned Over Last 48 Hours: Report

Wed, 03/30/2022 - 08:35
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Yuri Molchan
Close to one billion Shiba Inu tokens have been destroyed in the past two days by the SHIB Army
707 Million Shiba Inu Tokens Burned Over Last 48 Hours: Report
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Over a staggering 700 million SHIB meme coins have been burnt over the last 48 hours, according to the Twitter page of Shibburn crypto tracker.

This account accumulates data on meme coin burns from the Etherscan platform, bringing it all in one spot for the Shiba Inu army.

In the meantime, an Ethereum whale has acquired an astonishing amount of SHIB—241.3 billion tokens.

707 million SHIB destroyed by community

In a recent tweet, the aforementioned SHIB tracker stated that in the past 24 hours, a total of 404,393,504 SHIB tokens have been removed from circulation by getting moved to unspendable crypto addresses, i.e., burned.

From that amount, a 400 million lump was incinerated in merely one transaction. Earlier, @Shibburn also tweeted that during the previous day, 303.6 million Shiba Inu were sent to "incinerator wallets."

Therefore, the sum of SHIB burned in the past two days equals roughly 707 million SHIB.

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"Gimli" whale buys 404.3 billion SHIB

According to a recent tweet shared by WhaleStats platform, the owner of the "Gimli" wallet has grabbed a staggering 421,370,420,624 Shiba Inu. This wallet is named after one of the major characters of iconic fantasy novel "Lord of the Rings" written by J.R.R. Tolkien, and it is ranked 11th on the scale of ETH investors by WhaleStats.

The whale acquired this massive amount of SHIB in two transfers, first buying 271,370,420,624.152. Another purchase of SHIB—150,000,000,000 tokens—followed a short while after that.

The overall amount of meme coins bought by this investor comprises $11,313,795.

By now, however, the investor seems to have sold all of his SHIB stash, according to the page of his wallet on WhaleStats. At press time, this wallet contains $3,720,011,780 worth of ETH-based tokens, with Meta standing as the token with the largest USD value.

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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.