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Shib Army Burns 150 Million SHIB in Last Few Days: Details

Sat, 07/23/2022 - 20:00
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Yuri Molchan
Almost 200 million SHIB removed from circulation in past 4 days, following burn of 1 billion SHIB
Shib Army Burns 150 Million SHIB in Last Few Days: Details
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Contents

Shib army keeps locking SHIB tokens in dead wallets in hopes of pushing the coin's price up, but it has failed to reach its goal so far. Meanwhile, another 150 million meme tokens have been burned as part of a long-term SHIB burning initiative.

Meanwhile, last week, the community managed to burn over 1 billion Shiba Inu.

Nearly 200 million Shiba destroyed

According to the Twitter page of Shibburn, a service that tracks SHIB burns and destroys these meme coins itself, in the past few days, roughly 149.6 million meme coins have been moved to unspendable wallets to be locked there permanently.

The largest lump of these four has been burned in the past 24 hours — 87,574,132 SHIB, taking 12 transactions to move that amount of crypto to dead wallets.

12,738,009, 18,875,469 and 30,614,624 SHIB were burned prior to that, respectively.

Related
Shiba Inu's Welly Transfers First Set of Community Rewards in ETH to Wallet

SHIB holder count hits new milestone

As covered by U.Today earlier this week, the Shiba Inu community has reached a new historic milestone related to its holder count.

On July 20, the WhaleStats on-chain data service reported that the number of Shiba holders exceeded the 1,210,000 level.

On Friday, a whale whose wallet is called "BlueWhale0159" made an acquisition of a staggering 150,000,000,000 Shiba Inu, which was worth $1,750,500 at the time of the trade. The investor is still holding these tokens, unlike other whales who sold them or moved these coins to other wallets right after they had purchased them.

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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.