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SHIB Burn Rate Spikes 642% as Millions of SHIB Get Wiped Out

Sat, 12/24/2022 - 11:05
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Yuri Molchan
The Shiba Inu community has again succeeded in pushing the burn rate up significantly as it burned a large amount of meme coins
SHIB Burn Rate Spikes 642% as Millions of SHIB Get Wiped Out
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Prominent platform Shibburn that traces down SHIB burns has spread the word about another big lump of Shiba Inu meme coins getting removed to unspendable wallets by various individuals and businesses.

During the past day, the burn rate of SHIB has come close to rising by 700 percent compared to the previous day.

SHIB burn rate spikes 642 percent

Since last morning, the rate at which Shiba Inu meme coins have been getting burned has jumped by more than 642 percent, according to the Shibburn tracker website.

With 28,191,662 SHIB burned in total, a massive 24,091,662 SHIB was moved to a dead-end wallet in a single transfer. However, the equivalent of the overall amount that was burned just a little bit exceeds $233.

Image via Shibburn

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SHIB holder number keeps rising

According to upgraded data on the site of the popular large wallet tracker WhaleStats, the number of SHIB holders has risen by more than a thousand over the past 24 hours.

Now, this figure constitutes 1,271,030 versus roughly 1,270,000 on Friday.

WhaleStats data also shows that during the period of the last 24 hours, Shiba Inu meme coin fell out of the top ten holdings list for Ethereum whales. The top five assets held by the 100 largest wallets on Ethereum now are ETH, DAI, LINK, aWETH and CHAIN.

Chainlink’s native token LINK has not been seen in the top ten list for a long while already.

Image via WhaleStats
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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