208.53 Million SHIB Burned within 24 Hours, 161 Million Gone in One Transfer

April 4, 2022 - Around 2 mins mins to read

208.53 million SHIB Locked Up

The process of “burning crypto” is moving digital tokens to dead-end wallets, where they will remain forever and no one will be able to withdraw or spend those funds. This is done to lower the circulating supply, which in fact can drive up the price of the coin as the asset becomes rarer in the market.

Various burn campaigns inside the SHIB Army have moved 208.53 million Shiba Inu tokens to “inferno” addresses since Sunday morning. At the current SHIB/USD exchange rate, this equates to $5,544 USD. The largest transfer in this change of burns has carried a massive 161,397,653 SHIB.

208.53 Million SHIB Burned within 24 Hours, 161 Million Gone in One Transfer — Source: Shibburn

86.8 trillion SHIB Got Taken by The 3rd Largest Whale

On Sunday, April 3, the WhaleStats on-chain data tracker reported that “Tsunade,” the 3rd-largest wallet on the Ethereum blockchain, bought an enormous 86,811,666,383 Shiba Inu tokens.

At the moment of purchasing, the number of meme tokens was $2,305,717. The wallet contains more than $3.5 billion in various ETH-based tokens, with American Born Doge (USDOGE, 23.07 %) accounting for the biggest share (worth $1,915,414,660).

Before that, a whale named “Bombur” took a smaller but still significant amount of Shiba Inu: 58,505,930,053 tokens. “Bombur” made this purchase after buying 175 billion Shiba Inu earlier in the week. At the time of writing, this 19th-ranked whale had a total of $1,901,892,860 in various ETH tokens, excluding SHIB, which he has already sold.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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