Here’s How 600.7 Million SHIBs Were Burned In 5 Transfers By Shiba Inu Fans

The team behind Shiba Inu (SHIB) has been withdrawing tokens from this cryptocurrency for some time. More than half a billion coins of this coin meme (cryptocurrency inspired by internet jokes) have been burned recently. In concrete terms, the SHIB army sent 600.7 million Shiba Inu (SHIB) to dead ends wallets in the past 24 hours. At the same time, a crypto whale acquired 271.3 billion Shiba Inu (SHIB).

The Removal of Shia Inu (SHIB) Tokens by the SHIB Army

The Shiba Inu ecosystem is notably composed of a SHIBSwap exchange of its own. It also includes a decentralized organization called the SHIB Army. The latter consists of software developers, fans and cryptocurrency investors. According to the Shibburn Service website, the SHIB Army has been sending since yesterday morning, 600 729 245 pieces to various crypto addresses with no way out.

Actually no one can spend or withdraw the digital assets from such addresses. The SHIB tokens were thus burned and it was done in five transactions. Of these, the most notable single transfer was to send 595,232,837 SHIBs.

This sum in cryptocurrency was transferred to a dead end wallet from the address 0x95a9bd206ae52c4ba8eecfc93d18eacdd41c88cc a few hours ago. Note that before these transactions, a smaller quantity (just over 37 million) of SHIB had been destroyed recently.

Crypto whale buys 271.3 billion Shiba Inus

Crypto whales are individuals or organizations that own large amounts of cryptocurrencies. These different actors have the power to manipulate the value of a cryptocurrency. That said, it turns out that an anonymous crypto whale made an incredible transaction last Wednesday. In effect, she bought 271 370 420 624 SHIBwhich was approximately $6,143,035 at the time of acquisition.

However, the value of the sum in SHI then fell by $400,000. This is due to the fact that the price of SHIB has fallen slightly in the meantime. Yesterday morning, we could see that the course of the SHIB is in the red (that is to say down) by examining its chart. This cryptocurrency has already lost almost 2% of its value.

It must be said that from March 17, the price of SHIB fell by 4.23%. We were trading at $0.00002185 just yesterday. The token had however managed to reach a local peak of $0.00002281 the day before, before falling.

The SHIB Army has completed the removal of 600,729,245 pieces of Shiba Inu (SHIB). Indeed, the latter have been sent to addresses from which no one can neither spend nor withdraw them. Meanwhile, an anonymous crypto whale decided to buy 271,370,420,624 SHIB.

Source: U.Today

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Here’s How 600.7 Million SHIBs Were Burned In 5 Transfers By Shiba Inu Fans


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