Shib community keeps burning meme tokens, but whales prefer to hold them in large amounts
According to a recent tweet posted by the burning platform account that also tracks burns from other projects, Shibburn, in the past 24 hours, just over 134 million meme pieces have been taken out of circulation. by being sent to dead wallets.
While the community keeps destroying SHIB, whales are increasing their holdings of this token, making it their biggest asset by USD value.
A large amount of SHIB is burned
Shibburn reported that in the past 24 hours, various engraving projects got rid of a total of 134,370,659 Shiba Inu coins by moving them into unusable wallets for permanent locking.
It has taken the participants 14 transactions to remove that many Shiba Inu canine tokens.
According to the website of the aforementioned tracking platform, SHIB’s burn rate increased by 10.19% compared to the previous 24-hour burn count.
Burning SHIB through Amazon Audible
Four days ago, game dev Travis Johnson offered the SHIB community to join him in burning Shiba Inu via Amazon Audible on his Travis Johnson Twitter page.
Each registration of a new participant through his referral link earns him a bonus of $5, which is equivalent to half a million SHIB.
This Sunday, as part of his weekly burns, the developer of games for smartphones destroyed more than 61 million Shiba Inu, according to a recent tweet.
SHIB is the largest reserve of whales
According to the WhaleStats website which tracks the top 100 wallets on Ethereum, BSC and other blockchains, Shiba Inu remains the top whale wallet invested in ETH-based tokens.
The second largest meme cryptocurrency holds first place by U.S. dollar volume among their crypto holdings.
As of this writing, these investors hold $558,818,957 in Shiba Inu. This equates to 51,127,077,493,138 tokens and 14.99% of their cryptocurrency portfolio.
USDC sits in second place after Shiba Inu on this list of crypto holdings, with new meme token ShibDoge holding third place here. Whales are holding $384,780,192 worth of this token.
This represents 10.32% of their total portfolio, according to the website. It is followed by USDT, and Shiba’s regular rival, FTX Token, is in fifth place this time with the reserve comprising 9.82% of the whale wallet, or $366,038,115 of FTT.
