Shiba Inu Army Removes Staggering Amount of Coins from Circulation

Read about the recent progress made by the SHIB army in reducing the circulating supply of Shiba Inu meme coins and the massive internal transfer of SHIB on Bitvavo.

Posted 8 months ago in Altcoins

A pile of Shiba Inu coins

Over the past 24 hours, the SHIB army has achieved a remarkable feat in reducing the circulating supply of Shiba Inu meme coins. According to Shibburn platform, a total of 244,753,783 SHIB meme coins were disposed of during this period.

The majority of these coins, specifically 191,531,588 meme coins, were sent to dead-end wallets in a single transfer. This information comes from the transaction list published by Shibburn's burn tracker website, showcasing the scale of these significant burns.

The recent burns have led to a 35.88% increase in the SHIB burn rate, marking a significant step towards reducing supply.

In a related event, Bitvavo, a crypto exchange based in Amsterdam, witnessed a massive withdrawal of SHIB coins. A staggering 4,595,530,677,374 SHIB, equivalent to $33,377,339, was moved within the exchange's wallets. However, this transfer turned out to be an internal reshuffling of SHIB supply.

Earlier this year, Whale Alert, a crypto tracker, detected a series of similar transactions involving trillions of SHIB bought by empty wallets, creating new Shiba Inu whales.

Last updated 9/23/2023, 3:32:18 PM


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