As the SHIB army continues to burn tokens consistently, the supply of Shiba Inus continues to decline. This time, they even succeeded in significantly increasing the burn rate.
A significant Shiba Inu transfer between two anonymous wallets has been seen in the meantime.
SHIB burns jump 208%, millions of SHIB get burned
The Shibburn webpage reported that the SHIB army burned a total of 39,833,293 SHIB during the course of the previous 24 hours, an increase of 208.98%.
The biggest Shiba Inu lump that was recently moved to a dead-end blockchain address contained 27,448,699 SHIB. According to the Shibburn website, the second greatest transaction sent 8,583,153 SHIB to a “inferno” wallet.
Yesterday, there were only 4,718,135 meme coins in dead-end wallets, and the SHIB burn rate was almost 100% lower than zero.
Earlier this week, on Monday, the successful burning of 59,981,448 SHIB caused the burn rate to increase by more than 425%. That was the biggest increase in this crucial parameter during the previous few weeks, when the burn rate could only go to a maximum of 100% or slightly higher.
4.5 trillion Shiba Inu coins on the move
Popular cryptocurrency tracking service Whale Alert discovered a staggering transfer of 4,575,030,677,374 SHIB worth $31,629,474 at the time the transaction was performed around 17 hours ago.
The wallets belonging to the sender and the recipient both have unregistered owners and were thus classified as “unknown” by Whale Alert. More than 4 trillion SHIB were traded between anonymous blockchain addresses during this second transfer.
According to a previous analysis from U.Today, the number of high-tier SHIB holders continues to dominate the market as they control about 64% of the total circulating supply, or 623.5 trillion SHIB. That amount is only stored at 12 addresses.
In addition to those, there are 47 wallets that each hold 0.1% to 1% of the entire supply, for a total estimated at almost 140 trillion SHIB tokens, or 14.22%. Due to the high coin concentration, every transaction involving billions of SHIB may have an impact on the market.
The price of Shiba Inu has decreased by 2.48% in the last 24 hours. The toughest phase of the slide occurred yesterday, when the currency displayed a string of hourly candles that were all red. SHIB tried to make up some of its losses today, but it was unsuccessful. The well-known meme currency SHIB is now being traded on the Binance platform for $0.00000689.
