Like most cryptos, Shiba Inu (SHIB) has been declining since the start of 2022. The memecoin has so far recorded a decline of nearly 88.36%. This, despite taking numerous measures to reduce the supply of SHIBs in circulation. Reducing the quantity of the digital asset is intended to allow the price to increase. Among the measures adopted to achieve this objective is combustion. Indeed, more and more tokens are burned in the market. Find out the amount of SHIB tokens burned during recent transactions.
Already 410 382 016 984 249 tokens SHIB burned
Data from the Shibburn website reveal that, so far, 410,382,016,984,249 SHIBs have been burned in the initial offering. He appears that the Shiba Inu crypto token burn rate increased by 584%. Concretely, 50,802,530 SHIB tokens were burned in six transactions in the last 24 hours.
Last week, the burn rate of tokens SHIB had increased by 300%. Nearly 2 billion SHIBs were then burned. 48 transactions had contributed to the burning of 395,803,998 tokens SHIB. By Sunday, October 16, Shibburn had 10,757,815 SHIB burns in six transactions. These amounts were added to the hundreds of millions of SHIBs burned since the beginning of the month.
Whales are making a lot of moves in the market
The data shows a slight increase in large transactions. This shows that large Shiba Inu (SHIB) holders are currently making moves in the memecoin market. It seems that whales are behind the sharp rises transaction in the market for this crypto.
SHIB whales are buying or selling more and more. It has been noticed that each of their transactions is often over $100,000. In the past 24 hours, there has been a 31% increase in large trades on the SHIB market. Trade in the Shiba Inu (SHIB) crypto traded above the $0.000010 mark on token.
Currently, the token SHIB trades around $0.0000103 on crypto exchanges. This represents a slight drop over the past 24 hours. Yet, at the same time, in 2021, the Shiba Inu (SHIB) market was trending up. Indeed, the memecoin had managed to reach the all-time high of $0.000088.
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