- A total of two million SHIB tokens were burned in the past six hours.
- This follows the 139 million token burn over the past two days.
- Reportedly, burning tokens may lead to a hike in the price of the coin.
Among the latest SHIB burns, a total of “753,656 SHIB tokens burnt” is what is topping the hourly SHIB burn list at the moment. This token burn took place via a single transaction, whereas another number of 3,261,502 tokens were burned within two transactions, making it the latest burning.
Additionally, Shibburn tweeted that 4,054,192 SHIB tokens were also burned, which comes to the latest result of the burn at the time of writing. Reportedly, burning the crypto tokens could lead to a price hike for the coins with the logic that when the supply of the coin decreases, the demand for it increases, hence the price too.
Moreover, 3,796,171 SHIB tokens were burned in the past 24 hours. Notably, over 139 million tokens were also burned in the past two days, making it one of the largest trending burns for SHIB so far.
However, in another context, one of the Ethereum whales has bought Shiba Inu in a dip, reported Whalestats. An ETH address “BlueWhale0113” purchased over 321 billion tokens in one transaction.
As reported by CoinMarketCap, although the crypto market has become alive, its performance in the past 24 hours has slightly taken a dip. With that said, mem e coins like SHIB have met a downswing, which made the ETH whale buy the coin in huge amounts.
Taking a closer look at its price, Shiba Inu is registered at $0.000013, with a 24-hour trading volume of $444,527,728, at press time. Also, its price is 2.54% and 6.5% up in the past 24 hours and past seven days, respectively.