Over 4 Billion Shiba Inu Tokens Burned in July

Tokens of Shiba Inu, one of the popular meme coins, have been burned in large numbers in July. In the last month, 4,762,745,494 SHIB tokens were burned in multiple transactions. Also a large number of SHIBs have been sent to inactive wallets in the last few hours.

The Shibburn tracker reports that 66,45,872 SHIBs have been sent to inactive wallets in a huge transaction in the last few hours. Apart from this, 13,60,730 SHIB tokens were burnt in another transaction. A video has been tweeted on the Twitter handle of Shiba Inu which has sparked speculations. The video follows a video posted last week that featured an image of a game console. Shytoshi Kusama, the developer of this meme coin, is giving an indication of what might be new. According to WhaleStats, the number of holders of this meme coin is increasing and has exceeded 12,16,000.

Ethereum whales are the most bets on this mime coin and it tops the list of these whales’ assets in terms of value. It has surpassed MATIC, LINK and MANA. These whales have a holding of about $646 million in SHIB. Whales have the largest holdings followed by MATIC, MANA and LINK. Whales have the most in terms of MANA numbers on the Ethereum blockchain. However, SHIB is ahead of it in value. Over one lakh virtual plots have been sold on Shiba Inu’s Metaverse. Some of these plots will be used for roads, grounds and other public purposes. These plots are divided into four categories – Silver Fur, Gold Tail, Platinum Paw and Diamond Teeth. The SHIB team decided to use a neutral cryptocurrency as a land pricing token.

Recently, the price of the Shiba Inu had gained some momentum due to large purchases from Ethereum whales. The crypto market has been under pressure for the past few months due to macroeconomic concerns. There has been a lot of selloff in some of the major cryptocurrencies. The two Ethereum whales bought over 530 billion SHIB in three major transactions.

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