Main navigation

SHIB Army Burns 509 Million Shiba As Whales’ SHIB Holdings Drop Below 11%

News
Sat, 05/28/2022 - 20:00
article image
Yuri Molchan
Half a billion SHIB locked up in dead-wallets, while investors continue to buy huge lumps of this meme token
SHIB Army Burns 509 Million Shiba As Whales’ SHIB Holdings Drop Below 11%
Cover image via stock.adobe.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Read U.TODAY on
Google News
Contents

@Shibburn tracker has reported that over the past 24 hours, an astounding half a billion Shiba Inu meme coins have been burned and moved out of the circulating supply.

In the meantime, the percentage of SHIB holdings in the top 100 ETH whales’ portfolio has dropped below 11 percent. At the time of writing, it amounts to $493.6 million.

509 million Shiba burnt

A total of 508,825,823 Shiba tokens was destroyed within the last 24 hours – a result that took merely 15 transactions from the SHIB community.

The largest burn transaction here carried nearly more than half of the total amount of the destroyed SHIB - 295,559,819 coins.

Related
Elon Musk Gets Warning about Dogecoin and SEC from Crypto-Law Founder

"BlueWhale0073" buys 147 million Shiba

As per on-chain data platform @WhaleStats, Ethereum investor titled "BlueWhale0073" has again stunned the community by making a gigantic SHIB purchase. He has bought 147,846,134,326 tokens worth $1,562,733.

On Friday, May 27, the same investor acquired a similar amount of meme crypto – 142,670,797,289 Shiba Inu tokens.

article image
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.