Over 11.8M SHIB Burnt by Shiba Inu Community in Last 24 Hours

  • Shiba Inu is now the most actively traded token among the largest 100 holders of ETH.
  • SHIB burn rate skyrocketed 500% in the last 24 hours.

The price of Shiba Inu Coin (SHIB) has risen the most among meme coins as investor opinion has shifted positively. In comparison to the roughly 20% increase in value shown by Dogecoin (DOGE) over the last week, the price of SHIB has risen by 23% over the past week. SHIB Army is aggressively burning additional SHIB tokens to increase the future Shiba Inu price.

According to WhaleStats, the Shiba Inu Coin is now the most actively traded token among the largest 100 holders of Ethereum (ETH), surpassing Wrapped Bitcoin (WBTC) in the process. But Shiba Inu is also among the top 10 cryptocurrencies bought by the biggest ETH whales within the same time period.

Community Efforts

As we go further, we find that the Shiba Inu token is one of the top 10 tokens utilized by the top 100 whales in terms of trading volume. And yet these whales have $81 million worth of SHIB tokens in their possession.

The community’s proactive effort to remove Shiba Inu Coin from circulation has proven to be effective. It has been 24 hours since the SHIB burn rate skyrocketed 500%, according to statistics given by Shibburn. Around 11.8 million SHIB tokens have been burnt by SHIB Army to accomplish this.

Developers of Shiba Inu have stated their desire to introduce the new metaverse during the South by Southwest (SXSW) conference in Austin, Texas in 2023.

It will comprise a virtual reality (VR) tour of the WAGMI Temple, one of eleven venues in Shiba Inu’s metaverse exhibiting the Dogecoin (DOGE) competition. Moreover, the newest improvements to the Shibarium Network have been revealed by the Shiba Inu team. 

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Content writer by profession. A crypto lover and has passion for writing. Follows the developments of digital currency right from its launch, years ago.