Shiba Inu whales have been on their toes in the last 24 hours
In a party Tweeter, the SHIB Twitter account heralds a new milestone for the cryptocurrency community even as the official Shibtoken Instagram has over 150,000 followers. The team behind the meme cryptocurrency went on to thank the SHIB community for their support.
Per IntoTheBlock data, Shiba Inu whales have been on their toes in the previous 24 hours, with a 75% increase in large transactions. Large transaction spikes are frequently associated with increased activity from institutional players, or whales, who are either buying or selling.
These transactions exceed the $100,000 moved, according to IntoTheBlock.
Recently, the third-largest whale on the Ethereum blockchain, marked “Tsunade,” purchased 86 billion Shiba Inu tokens in a transaction valued at $2.3 million.
On April 4, it was reported that crypto ATM network Bitcoin of America had added Shiba Inu, following the addition of Ethereum and Dogecoin to the range of coins that this chain works with.
Now, users can buy these cryptocurrencies from Bitcoin of America kiosks, along with BTC. Dogecoin was added by the network in February, causing the price of the meme coin to spike.
The SHIB army continues to reduce the circulating supply of the second most popular cryptocurrency, Shiba Inu, by burning tokens.
Every 24 hours, a certain amount of SHIB gets burnt in an attempt to gradually shrink the SHIB supply in circulation.
Nearly 180 million tokens burned
The team of @shibburn token burn initiative announced that in the past 24 hours, 179,387,035 SHIBs have been burned.
In a recent blog post, Shiba Inu-themed fast food chain Welly has confirmed that it will actively participate in the process of burning SHIB tokens with the help of crypto payment gateway NOWPayments.
