Shiba Inu burns 176 million tokens, burn rate increased by 256%

The Shiba Inu team continues to burn Shiba Inu tokens, taking the burn rate of this meme token to above 250% once again. The SHIB Army is burning tokens every hour to deplete tokens from the circulating supply. This time the team has sent 176 million Shiba Inu tokens to the dead end wallets. This increased the burn rate of the token to 256%.

According to Shibburn, the Shiba Inu’s burn rate has reached 256.13% in the last 24 hours. The Shibburn platform also supports the burning of Shiba Inu and also tracks the tokens being burned. The latest figures from the website show that the world’s second largest meme cryptocurrency has been burned in the past 24 hours. Shiba Inu Army has sent 176,545,974 tokens to dead wallets. For this the team has done 29 transactions.

According to on-chain data platform WhaleStats, the Shiba Inu’s rank has come down in terms of top holding cryptocurrencies. Platforms that track tokens such as Ethereum, BSC and Polygon have said that the Shiba Inu, which was ranked first in the list of Top 10 Digital Assets Holding by Ethereum Whales, has now moved to fifth place. This is because recently Ethereum whales have sold a large number of tokens. According to the platform, Ethereum whales have sold 1.5 trillion Shiba Inu tokens, leading to a significant reduction in Shiba Inu holdings by the largest 100 Ethereum whales.

The report said that while on Monday these whales had a Shiba Inu worth $159,673,102, on Tuesday this holding rose to $140,264,215. There was a difference of 1,444,866,920,152 coins in Shiba Inu Holding. Talking about the current price of Shiba Inu, today there is a slight increase in its price. At the time of writing this news, Shiba Inu in India was trading with a gain of 1.01% at Rs.0.00104.

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