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'Amazon SHIB Burner' Helps Destroy Great Amount of Shiba Inu: Details

Tue, 20/12/2022 - 13:46
'Amazon SHIB Burner' Helps Destroy Great Amount of Shiba Inu: Details
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Over the past 24 hours, the SHIB burn rate surged as nearly 65 million Shiba Inu tokens were removed from the circulating supply. Around half of this sum of meme crypto was burned by the "Shib Super Store" platform that uses an Amazon affiliate program.

65 million Shiba Inu removed, burn rate soars 111%

According to prominent burn tracker Shibburn, since the morning of Dec. 19, the joint efforts of the Shib army helped the circulating SHIB supply shrink by a total of 66,065,238 meme coins. That was quite a rise of over 111% from the approximately 30 million SHIB burned a day before.

The two largest transfers to dead-end wallets here were those carrying 32,314,923 and 21,537,303 Shiba Inu.

As a result of these burns, over the past 24 hours, the burn rate of this leading meme coin in the market went up by 107.30%.

Image via Shibburn

SHIB Dev Provides Update About Shibarium Launch, But There's a Catch

"Amazon burner" removes half of 24-hour burn stash

"Shib Super Store" run by creator of mobile games Travis Johnson, according to his recent tweet, managed to destroy around half of the aforementioned SHIB amount. Thanks to his efforts, a total of 32,314,923 SHIB are gone now.

At the beginning of this year, Johnson announced that he began using an affiliate program on Amazon. All the commission fees he gets from sales of goods are used for purchasing Shiba Inu tokens that will later get burned.

The rest of the burns happening every Sunday are "sponsored," with part of the advertising income coming from ads in his games for smartphones, according to the earlier tweets of "Shib Super Store."

The next burn, according to the tweet, will take place on Christmas Day — in a week's time.

SHIB becomes top purchased asset

As reported by WhaleStats wallet tracker, the SHIB token is again on the list of the 10 most purchased digital currencies among the largest 5,000 whales on Ethereum.

SHIB is currently also on the top 10 list of holdings among the 100 biggest whales on ETH chain as they hold $48,697,308 worth of this canine token, second biggest by market capitalization after Dogecoin.


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