Crypto tracking service focused on Shiba Inu, Shibburn, has announced that during the period of the last seven days, a massive chunk of SHIB has been moved to "inferno" addresses — close to 2 billion SHIB.
Nearly all of it was burned in a single transfer by a mysterious wallet, according to the recently shared data. Still, after the most recent burns, the burn rate has sunk into the red zone.
SHIB army destroys 1.8 billion SHIB, but one burn clearly stands out
According to a recent report by Shibburn, in the past 24 hours, the Shib army succeeded in getting rid of 30,026,184 SHIB tokens. This was a lot less than the Sunday burns, so the burn rate of Shiba Inu fell by slightly over 87%.
Overall, in the past seven days, the SHIB community burned 1,836,198,108 Shiba Inu meme coins, which is 40.76% less than they destroyed in the week before last.
The impressive thing is that nearly all of it was burned three days ago, according to a detailed report. Wallet -3287ffdeaa burned 1,494,278,561 Shiba Inu.
By now, according to Shibburn, 410,633,191,977,516 SHIB have been removed from the circulating supply. A total of 15,381,634,441,021 SHIB has been staked, and 573,985,173,581,461 Shiba Inu continues to circulate on the market.
Whale buys 3 trillion Shiba Inu
Whale Alert crypto tracking platform has reported that during the past 24 hours, an anonymous crypto whale made an astounding SHIB purchase, buying a total of 3,484,812,794,902 SHIB.
That acquisition cost the investor $40,284,435 USD. However, details of the transaction shared by Whale Alert show that this might also be an internal transaction made by a crypto exchange among its internal addresses.
At the time of this writing, the second most popular dog-themed cryptocurrency is changing hands at $0.00001159 per token. Over the last week, SHIB has demonstrated growth by 6.43%.