Shiba Inu Community Burns Over 102 Million SHIB in a Week; Crypto.com’s User Makes Biggest Contribution.
The Shiba Inu Community continues to make headlines in crypto as they burn millions of tokens weekly. This week was no exception, with 102,145,155 (102.14M) SHIB permanently removed from circulation through 28 transactions.
In the last 7 days, there have been a total of 102,145,155 $SHIB tokens burned and 28 transactions. #shibarmy
— Shibburn (@shibburn) February 12, 2023
The most significant contributor to the Shiba Inu burn this week was Crypto.com’s related wallet sent an impressive 34,900,000 (34.90M) SHIB to the inferno address in one large transaction. The transaction was performed on February 12th, 2023, at 12:23:11 AM +UTC.
The members of the Shiba Inu Community show no signs of slowing down as they continue their efforts to reduce the overall supply of SHIB. They started the new week with a bang by permanently removing 39,515,844 (39.51 million) SHIB from circulation on the first day of the week. As reported by The Crypto Basic, this impressive burn was a joint effort by Binance affiliated wallet and the famous SHIB Super Store. The two wallets combined burned 26,284,073 (26.28 million) SHIB in two separate transactions.
Besides Shiba Inu burns, SHIB also becomes the top ETH Whales’ top favorite token. As per data provided by WhaleStats, the 100 biggest ETH whale wallets are holding an impressive $666,300,027 ($666.30M) worth of SHIB.
? The top 100 #ETH whales are hodling
$666,300,027 $SHIB
$146,436,746 $BEST
$139,060,980 $CHSB
$128,710,645 $MATIC
$96,545,419 $BIT
$81,023,390 $LOCUS
$61,037,825 $LINK
$60,189,488 $CHZWhale leaderboard ?https://t.co/N5qqsCAH8j pic.twitter.com/4OIQYX3sdd
— WhaleStats (tracking crypto whales) (@WhaleStats) February 12, 2023
Recently, Binance officially incorporated Shiba Inu (SHIB) into its Proof of Reserves (PoR) system and three other popular assets. The inclusion is a step forward in Binance’s efforts to improve the transparency of its PoR system for its customers and to make it more secure by utilizing zk-SNARK technology.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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