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SHIB Burn Rate Surges 90% as SHIB Army Burns 390 Million SHIB with Amazon's Contribution

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Wed, 24/08/2022 - 9:54
SHIB Burn Rate Surges 90% as SHIB Army Burns 390 Million SHIB with Amazon's Contribution
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Shibburn portal has spread the word that, in the last two days, roughly one-third of a billion Shiba Inu were sent to unspendable wallets, currently raising the SHIB burn rate.

According to a tweet from an active burner of Shiba Inu tokens, part of this amount was eliminated via Amazon and the new SHIB burn portal.

390 million SHIB gone, burn rate up 90%

In a recent tweet, Shibburn stated that in the past 24 hours, it has spotted that a total of 213,067,021 SHIB were removed from the supply of the second most popular canine token in circulation.

This was achieved in 14 transactions and pushed the overall burn rate of SHIB up more than 90%.

Prior to that, as covered by U.Today earlier, 176,545,974 Shiba Inu had been burned in 29 transfers in dead-end wallets. On Tuesday, the SHIB burn rate was up 256.13%, according to the Shibburn website.

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Image by Shibburn

SHIB burned via Amazon and new burn website

@shib_superstore Twitter account that represents the online shop of Travis Johnson game dev has reported that, on Monday, they had earned another $89 in order to buy SHIB with it later on to be burned next Sunday.

Part of this money was made via the affiliate program with Amazon that SHIB Superstore of the aforementioned game developer joined earlier this year. According to a recent tweet, commissions from this program have constituted $22 (which is 1,661,631 SHIB). It also mentioned that the new website that burns SHIB, playzone.online, has also contributed $5 worth of SHIB; that is less than 1 million meme tokens.

Related
1.4 Trillion SHIB Sold by Whales Overnight as SHIB Drops to 5th Place Among Holdings

$157.3 million in SHIB settle down in whales' wallets

According to data shared by WhaleStats wallet tracker on its website, by now, the top 100 whales on Ethereum have acquired $157,326,168 worth of Shiba Inu. This is the equivalent of 11,909,626,646,479 canine tokens.

Since Tuesday, these whales have bought more SHIB and increased their holdings of this meme token by $17 million from $140,264,215 in Shiba Inu. Prior to that, they had sold 1,444,866,920,152 SHIB.

These whales speculate on Shiba Inu, first buying large amounts of these tokens and then selling them after even a tiny price increase.

By now, SHIB has also managed to return to fourth place from the fifth position it occupied yesterday. At press time, Shiba Inu comprises 5.29% of whales' holdings.

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